(Yicai Global) Aug. 7 -- China's trade surplus jumped 33 percent last month from June to USD62.3 billion, thanks to an unexpected 7.2 percent increase in exports as the negative effect of the Covid-19 pandemic started to be overcome, the General Administration of Customs announced today.

Chief economists at 26 major Chinese financial institutions Yicai Global surveyed projected on average the July trade surplus will come in at about USD43.23 billion, down from June’s USD46.42 billion.

Overall trade was around USD412.9 billion, up 3.4 percent from a year ago, including exports of USD237.6 billion, up 7.2 percent, and USD175.3 billion in imports, which dipped 1.4 percent.

The economists also predicted a 0.05 percent gain in export volume and a 0.2 percent fall in imports during the period. In June, exports gained 0.05 percent, while imports increased 2.7 percent.

Total trade was USD2.44 trillion for the first seven months, still down 4.8 percent from the same period last year, Exports were at USD1.34 trillion, down 4.1 percent, while imports stood at USD1.11 trillion, down 5.7 percent. The overall trade surplus was USD230.1 billion.

Editor: Ben Armour