China's May Exports Increase 7.6% Year-on-Year, Exceeding Market Expectations
Last month, China's exports surpassed market expectationsand showed strong performance.
According to the General Administration of Customs of China on the 7th, China's export value in May this year (in US dollars) was $302.35 billion (approximately 414 trillion KRW), an increase of 7.6% compared to the same period last year. This significantly exceeded market forecasts (6.0%). Compared to the export growth rate in April (1.5%), it surged about fivefold.
China's imports in May recorded $219.73 billion (approximately 301 trillion KRW), up 1.8% year-on-year. Imports fell well short of market expectations (4.2%). As a result, the trade surplus in May was $82.62 billion (113 trillion KRW).
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The total trade volume of China in May was $522.07 billion (approximately 715 trillion KRW), an increase of 5.1% compared to May last year.
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