China's exports grow 7.6% in May, beating expectations despite trade tensions
China's exports for May beat analyst expectations despite trade tensions, though imports shrank
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.China's exports for May beat analyst expectations despite trade tensions, though imports shrank, according to customs data released Friday.
Exports jumped 7.6% in May from the same time last year to $302.35 billion. Imports however rose by 1.8% to $219.73 billion, missing estimates of about 4% growth.
The uptick in exports is also partly due to a lower base from the same period last year, when exports declined 7.5%.
In comparison, imports grew by 1.5% in April compared to the same period last year while April imports rose by 8.4%.
Strong exports also saw China’s trade surplus widen to $82.62 billion, up from April’s $72.35 billion.
China's growth in exports come as it faces escalated trade tensions with the U.S. and Europe. The U.S. is ramping up tariffs on China-made electric cars while Europe is considering levying similar tariffs.
Factory activity in China slowed more than expected in May, according to an official survey released last week.
The manufacturing purchasing managers index from the China Federation of Logistics and Purchasing fell to 49.5 from 50.4 in April on a scale up to 100 where 50 marks the break between expansion and contraction.