China exports surge in May, trade balance grows while imports shrink
Investing.com-- Chinese exports grew more than in May, buoyed by steady industrial output and overseas demand, which saw the country’s trade balance grow much more than expected.grew 7.6% year-on-year in May, data from the Customs Administration showed on Friday. The rise was much higher than expectations of 6%, and rebounded sharply from the 1.5% rise seen in the prior month.
But consistently strong Chinese exports raised some concerns over China’s biggest export destinations imposing some curbs on Chinese goods due to oversupply and dumping concerns. The U.S. had earlier this year hiked import duties on several Chinese industries, raising concerns that other developed economies could also follow suit.widen to a surplus of $82.62 billion, compared to expectations of $70.50 billion and April’s reading of $72.35 billion., which grew only 1.8% year-on-year in May.
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