China exports jump in May but imports slow

FE Team | Published: June 07, 2024 23:51:46

BEIJING, June 7 (AFP): China's exports accelerated far more than expected in May but imports slowed, official figures showed Friday, in
further evidence of an uneven recovery for the world's number two economy.
Overseas shipments surged 7.6 percent on-year in dollar terms, the General Administration of Customs said -- much better than April's 1.5 percent and
also beating the 5.7 percent forecast in a Bloomberg survey of analysts.
Exports have historically served as an important economic engine in China,
with overseas sales performance having a direct impact on employment for thousands of companies.
The latest figures represent a second consecutive month of growth, following a brief year-on-year decline of 7.5 percent in March.
But various headwinds facing China's trade outlook remain, with combined exports and imports with the United States down 1.4 percent in May amid
continuing geopolitical spats between the superpowers.