In May, China’s exports rose by 7.6% yoy, surpassing the expectation of 6.0% yoy growth. Notably, exports to US increased by 4.8% yoy, marking the highest growth in three months. Exports to ASEAN countries saw a significant jump of 25% yoy, while exports to the EU declined by -0.7% yoy.
On the import side, growth was more subdued, with imports rising by only 1.8% yoy, falling short of the expected 4.2% yoy increase.
China’s trade balance for May reported a surplus of USD 82.6B, well above the anticipated USD 72.2B.
