Zhang Mengying

Investing.com – China’s exports in May as factories’ production recovered and COVID-19 disruption on logistics eased.

The government data released earlier in the day showed that China’s year on year. Investing.com forecasts a 8.0% growth, while April’s growth was 3.9%.

Data also showed that China’s , the first gain in three months and compared with flat growth in April. Investing.com’s forecasts predicted a 2.0% increase. This indicates a growing domestic market as COVID-19 curbs are lifted.

The stronger-than-expected trade data indicated a rebound in the world’s second-largest economy. Due to the most severe COVID-19-related outbreak in 20 years, China enacted stringent sanctions this year. Shanghai went into lockdown in June for two months. Since then, Shanghai has been allowed to reopen.

The Shanghai port, the world’s largest port, has also been handling more cargo since May, with official data showing that daily container throughput back to 95.3% of its normal level in late May.

The State Council has urged local officials to revitalize supply chains and promote economic growth.

China’s cabinet recently also announced 33 measures covering fiscal, financial, investment, and industrial policies to stabilize the economy.

However, China’s trade outlook also depends on factors such as high raw materials costs and uncertainties from the Ukraine war. China’s demand also depends on the recovery levels of other economies. Analysts believe that China will struggle to meet its official GDP target (around 5.5%) this year.