China’s vast export sector continued to defy headwinds from the US-Israel war on Iran last month, as shipments skyrocketed on the back of US President Donald Trump’s visit to Beijing and robust global demand.The country’s exports rose by 19.4 per cent year on year to US$376.78 billion in May, according to Chinese customs data released on Tuesday. The reading was significantly higher than a forecast of 12.39 per cent growth from economists polled by financial data provider Wind.China also saw imports grow by 27.4 per cent last month to US$271.35 billion, surpassing projections of 20.15 per cent growth in a Wind poll. That brought China’s trade surplus to US$105.43 billion last month, up from US$84.82 billion in April.The readings followed an unexpectedly strong month for China’s exporters in April, when the country’s outbound shipments swelled despite the ongoing conflict in the Middle East.Markets had been eagerly awaiting this month’s data to gauge whether China’s export sector would be able to maintain that momentum in the face of rising global economic turbulence – and whether Trump’s recent visit to Beijing had affected trade between the world’s two largest economies.Last month, China’s exports to the United States rose 35.4 per cent year on year, as shipments rebounded from the previous year’s low baseline, set amid the peak of the tariff war.
Developing | China’s export machine defies gravity as shipments soar in May
After a strong April, China’s exports surged once again in May, as the country’s firms continue to shrug off the impact of the Iran war.
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