China Trade May 2017

China

China: Trade data improves in May

June 7, 2017

Exports rose 8.7% annually in May, coming in above both April’s 8.0% rise and the 7.2% rise that market analysts had expected. May’s healthy reading signals that global demand remains resilient.

Meanwhile, imports rose 14.7% annually in May, which came in above April’s 11.9% expansion and the 8.3% rise markets had expected. Imports grew at a faster pace in May even though purchases of raw materials were relatively stable, suggesting that domestic demand is holding up.

The trade surplus narrowed from USD 44.7 billion in May 2016 to USD 40.8 billion in May 2017. The 12-month moving sum of the trade surplus decreased from April’s USD 466 billion to USD 462 billion in May, which marked the lowest value since January 2015.

FocusEconomics Consensus Forecast panelists project that merchandise exports will expand 4.5% in 2017, while imports will rise 8.3%, driving the trade balance to a surplus of USD 472 billion. For 2018, the panel expects exports to expand 3.7% and imports to increase 4.0%, while the trade surplus will nudge up to USD 484 billion.


Author: Ricard Torné, Head of Economic Research

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China Trade Chart


China Trade12m May 2017

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: General Administration of Customs of the People’s Republic of China and FocusEconomics calculations.


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