China exported a record $412 billion worth of goods last month, blowing past analysts’ forecasts as AI and the green transition continued to drive global demand for its products.
Soaring fuel prices, sparked by the Iran war, saw green tech exports surge by a third in the first half of the year, while demand for EVs drove the number of cars shipped in a single month above a million for the first time ever.
Semiconductors were among the fastest-growing categories too, as buyers looked to skirt a global supply crunch. However, the data also pointed to the continued bifurcation of China’s economy amid weakening consumption, which has weighed on growth. “Domestic demand remains a drag,” an expert told Reuters.
