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7 Aug 2025

International Economy

China’s exports in July 2025 grew more than expected at 7.2% YoY, with shipments to Thailand in the first seven months showing the highest growth in ASEAN (Business Brief No.4182 Full Ed.)

คะแนนเฉลี่ย
  • Although the US and China agreed on a reciprocal tariff suspension, China’s exports to the US in July 2025 continued to contract further to (-)21.7 percent YoY.
  • However, the decline in China’s exports to the US was offset by continued robust export growth to ASEAN of 16.6 percent YoY, partly due to the substantial front-loading of shipments before new US tariff rates take effect in August 2025.
  • As a result, China’s exports in July 2025 grew more than expected at 7.2 percent YoY, while imports expanded for the second consecutive month at 4.1 percent YoY, leading to a narrower trade surplus.

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International Economy