FX.co ★ China Exports Fall More Than Expected

China's exports declined more than expected in June on weak domestic demand, data released by the General Administration of Customs showed on Thursday.

Exports decreased 12.4 percent on yearly basis in June, following a 7.5 percent fall in May. Exports were expected to drop 9.5 percent.

Similarly, imports declined 6.8 percent annually, which was bigger than the expected fall of 4.0 percent and May's 4.5 percent decrease.

As a result, the trade surplus increased to $70.6 billion in June. The expected level was $74.8 billion.