China's trade surplus unexpectedly surged to a fresh record peak of $101.26 billion in July 2022 from $55.89 billion in July 2021, far above market forecasts of $90 billion. Exports climbed 18% year on year, the most in six months, while imports grew much slower at 2.3%.
China's imports and exports totaled 23.6 trillion yuan ($3.49 trillion) during the first seven months of the year, surging 10.4% year on year. The exports rose by 14.7% from a year earlier to 13.37 trillion yuan, while the imports were valued at 10.23 trillion yuan, increasing 5.3% year on year.
China's trade values with the Association of Southeast Asian Nations, the European Union, and the United States during the period were respectively 3.53 trillion yuan, 3.23 trillion yuan, and 2.93 trillion yuan. The trade values increased 13.2%, 8.9%, and 11.8% year on year, respectively.