MNI BRIEF: China June Exports Beat Expectations In 17.9% Jump

China's exports jumped by 17.9% in June from a year ago, beating the previous month and a market forecast of 12.9%, customs data on Wednesday showed, on the accelerated resumption of the production in south China cities as well as a weaker yuan exchange rate.

Imports, led by energy purchases, rose 1.0% in June and missed the consensus of 4.0% gain expected, the data showed. Exports in the first half reached $1.73 trillion, or up 14.2%, while imports amounted $1.35 trillion up by 5.7%. The trade surplus in the first six months was $385.44 billion, with June contributing $97.94 billion, (See: MNI BRIEF: China Foreign Trade To Achieve Stable Growth In H2)

The United States still ranked the biggest buyer with imports from China up 15.8% y/y in the first half, while the European Union placed the second, up 19.1%. Imports from the US increased 3.6% in the first half, and those from the EU fell 7.6%.