China exports slump, imports slide

CHINESE trade data has come in well below even the lowest expectations, raising the prospect of more aggressive stimulus by authorities.

The nation's exports slumped from 11.3 per cent growth year-on-year in June, to growth of just 1 per cent in the year to the end of July - that was against the median economist prediction of 8 per cent.

Australia's largest export destination also saw a slowing in imports, with imports in the year to July rising 4.7 per cent, down from 6.3 per cent the month before, and much lower than the median forecast of a 7 per cent rise.

The Australian dollar fell from just above 105.5 US cents before the release to about 105.2 just afterwards.

The slump in exports shrank China's trade surplus from $US31.72 billion last month to $US25.15 billion in July.

Read more at ABC news online.

Topics:  china gfc

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