Booming exports are propping up China’s growth, allowing policymakers to delay tougher measures to restore consumer confidence. Its leaders should do more to diversify their country’s sources of demand

Saudi Oil Exports Show Signs of Recovery A supertanker has been seen loading at Saudi Arabia’s Ju’aymah terminal for the first time in nearly a month, suggesting the kingdom may be resuming more crude exports through its Persian Gulf facilities. The VLCC can carry roughly 2 million barrels of oil. Saudi Arabia had shifted millions of barrels of exports to its Red Sea port of Yanbu after disruptions around the Strait of Hormuz. However, Houthi threats against Saudi-linked ships have complicated those routes, while satellite images show reduced activity at Yanbu.

Preliminary South Korean Semiconductor Exports, August 1–11 DRAM: $4.62B (+4% MoM, +32% QoQ) DRAM modules: $330M (-77% MoM, -63% QoQ) NAND: $780M (+54% MoM, +70% QoQ) MCP: $2.10B (+2% MoM, +16% QoQ) SSD: $490M (-33% MoM, -54% QoQ) August 1–11 / July Exports as a Percentage of the Previous Month DRAM: 34% DRAM modules: 4% NAND: 44% MCP: 21% SSD: 11%

Belarusian fuel exports to Russia reached a record high in July, according to Reuters. Rail shipments of gasoline rose 13% from June to 212,000 metric tons, while diesel exports doubled to 162,000 metric tons. Gasoline exports to Russia during the first seven months of 2026 increased 25-fold from a year earlier. The surge comes as Russia faces fuel shortages following Ukrainian strikes on oil refineries and other energy infrastructure.

China's rare-earth exports to the US remain critically low: China's monthly exports of rare-earth magnets to the US averaged 479 tons in H1 2026, on track for the lowest annual monthly average since 2021. By comparison, exports averaged 586 tons between 2022 and 2024, ~22% higher than the current rate. These components are critical to industries spanning electric vehicles, industrial automation, and defense, making secure access to them a key priority for US manufacturers. This comes despite October's truce between President Trump and President Xi, in which China pledged to keep rare-earth magnets flowing as a key part of pausing the trade war. China remains the dominant force in the industry, controlling over 90% of global rare-earth magnet production. Key shipments of rare-earth magnets from China are constrained.

China's exports surged in June, buoyed by orders for chips to fuel the global AI boom and automobiles, deepening producers' reliance on overseas buyers as it continued to grapple with ‌how to boost demand at home. More here: