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China’s Trade Balance: Surplus expands in May amid a bigger-than-expected exports surge
China's Trade Balance for May, in Chinese Yuan terms, came in at CNY586.40 billion, widening from the previous figure of CNY513.45 billion. Exports jumped by 11.2% YoY in May vs. 5.1% seen in April. The country’s imports rose 5.2% YoY in the same period vs. 12.2% recorded previously. In US Dollar terms, China’s trade surplus shrank in May. Trade Balance came in at +82.62B versus +73B expected and +72.35B previous. • Exports (YoY): 7.6% vs. 6.0% expected and 1.5% previous. • Imports (YoY): 1.8% vs. 4.2% expected and 8.4% last. Additional takeaways • China Jan-May USD-denominated exports +2.7% YoY. • China ... (full story)
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China’s exports grow more than expected in May, up by 7.6%
China’s exports in May grew faster than expected, while imports missed forecasts, customs data showed Friday. Exports rose by 7.6% in May from a year a go in U.S. dollar terms, beating expectations for 6% growth, according to a Reuters poll. Imports, however, rose by 1.8% during that time, missing the Reuters’ forecast for 4.2% growth. In April, China’s exports rose by 1.5% year-on-year, while imports climbed by 8.4%. China’s exports have held up despite trade tensions with the U.S. and have helped support overall economic growth. The Caixin manufacturing purchasing managers’ index showed that new export ... (full story)