MNI DATA BRIEF: Electronics, Medical Goods Aid China H1 Export Surge

Strong demand from major trade partners for electronics and medical goods helped China's exports increased nearly 39% y/y to USD1.52 trillion in the first half of the year, the General Administration of Customs said on Tuesday.

Imports also jumped 36.0% y/y growth to to USD1.27 trillion. The trade surplus registered almost USD252 billion in the first six months, with the June surplus widening to USD51.53 billion from USD45.53 billion in May.

In June, exports rose 32.2% y/y, a faster pace than the 27.9% y/y growth in May and the 13^th straight month of growth, and handily beat an expected 23.1% y/y increase. Exports to the U.S. soared nearly 43% y/y in the January-June period, while those to the EU and Japan gained almost 36% and 19%, respectively.

Imports rose almost 37% y/y in June, slowing from the 51.1% growth in May. Total imports for the first six months increased 36.0% y/y. January-June imports from the U.S. grew 55.5% y/y, while those from the EU and Japan rose nearly 39% and 28%, respectively.