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China’s May exports grow 16.9% y/y, imports up 4.1%; beat forecasts -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A container ship with cargo is seen at Yantian Port in Shenzhen following the new coronavirus (COVID-19), outbreak, Guangdong Province, China, May 17, 2020. REUTERS/Martin Pollard

BEIJING, (Reuters) – China’s May exports grew by 16.9% compared to a year earlier, exceeding analysts’ expectations. However, imports climbed 4.1% in the first three-month period, according to customs data.

According to Reuters, analysts had predicted that exports would increase 8% in May after a gain of 3.9% in April.

The imports will likely rise by 2.0%, after remaining the same in previous months.

China reported a trade surplus worth $78.76billion in May, which was higher than the $58 billion forecast in the poll. China reported an April surplus of $51.12 billion.

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