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.