MNI DATA BRIEF: China May Exports Up 27.9%, Imports Rise 51.1%

China's exports rose 27.9% y/y in May driven by growing demand from European countries and the U.S. and greater shipments of labour intensive as well as mechanical and electrical products although the pace slowed from the 32.3% rise recorded in April, data from the General Administration of Customs showed on Monday.

May marked the 12^th consecutive month of growth in exports. Total exports for the first five months increased 40.2% y/y to $1.24 trillion. Exports to the U.S. rose 49.8% y/y in the January-May period, while those to the EU and Japan increased 38.0% and 17.3%, respectively.

Imports rose 51.1% y/y in May, faster than the 43.1% growth recorded in April, driven by commodities such as iron and ore, soybeans and crude oil. The total for the first five months increased 35.6% y/y to $1.03 trillion. Jan-May imports from the U.S. grew 59.8% y/y, while those from the EU and Japan rose 39.9% and 29.0%, respectively. The trade surplus registered $203.45 billion in the first five months, with the May surplus expanding to $45.53 billion from $42.86 billion in April.