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China Trade Balance June 2020

China: Exports and imports rebound in June as lockdowns ease around the world

In June, exports expanded 0.5% over the same month in the previous year, contrasting the 3.3% drop in May. Moreover, the print exceeded the 1.5% drop that market analysts had expected.

Meanwhile, imports rose 2.7% in annual terms in June. The print contrasted both the 16.7% contraction in May and the 10.0% drop that market analysts had projected.

As a result of the stronger expansion in imports, the trade surplus fell from USD 49.6 billion in June 2019 to USD 46.4 billion in June 2020 (May 2020: USD 62.9 billion surplus). The 12-month moving sum of the trade surplus fell from USD 416 billion in May to USD 412 billion in June.

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