Asia’s exports staged something of a recovery in July with total exports from 15 countries having risen by 0.4% year over year after a 2.6% slump in 2Q. When combined with a 1.3% recovery in exports from the EU that meant global exports across 37 countries grew by 0.2%, the first monthly improvement since January. Yet, Asia’s gain in July was largely down to China, which has since seen a 1.0% drop in exports in August. Indeed, six of the nine countries that have reported August data have already shown a drop in exports – the recovery is proving short-lived.





