China’s exports increase 7.2% Y-o-Y in July due to demand for medical supplies

China’s dollar-denominated exports rose 7.2 percent while imports fell 1.4 percent from a year ago, data from the country’s General Administration of Customs showed on Friday.

Economists polled by Reuters had expected China’s dollar-denominated exports to fall by 0.2 percent from a year ago, while imports were predicted to have risen 1percent from a year ago.

In June, China’s dollar-denominated exports posted a rise of 0.5 percent compared to a year ago, and imports rose 2.7% in the same period.