China: Merchandise exports gain steam in June
Latest reading: Merchandise exports climbed 5.8% on an annual basis in June (May: +4.8% year-on-year), beating market expectations and coming after the temporary reduction in U.S. tariffs. Meanwhile, merchandise imports increased 1.0% in annual terms in June (May: -3.4% yoy).
As a result, the merchandise trade balance improved from the previous month, recording a USD 114.8 billion surplus in June (May 2025: USD 103.2 billion surplus; June 2024: USD 99.0 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 1142.9 billion surplus in June, compared to the USD 1127.1 billion surplus in May.