June 07, 2024 04:56 GMT
MNI BRIEF: China Exports Surge In May; Imports Slow
MNI (Singapore)
(MNI) Beijing
A pick up in overseas demand saw China exports recover through April.
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China's exports rose 7.6% y/y in May, beating the market consensus of a 5.3% y/y rise and far ahead of the 1.5% y/y growth seen in April, data released by Customs on Friday showed, with the increase driven mainly by recovering external demand.
Imports increased 1.8% y/y during the month, lower than the market consensus for a 4.6% y/y pick up, slowing from last month's 8.4% y/y rise.
The trade surplus over the first five months of 2024 was USD337.21 billion, with May contributing USD82.6 billion.
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