China: Trade data remain weak in May
June 8, 2015
In May, exports fell 2.5% over the same month last year, which followed the 6.4% decline tallied in April. May’s drop was above the 4.4% decrease that market analysts had expected and represented the third consecutive decline. Imports fell 17.6% annually in May, which was below the 16.2% decline tallied in April. The print exceeded the 10.0% drop that market analysts had expected and represented the seventh consecutive contraction.
As a result of the sharp drop in imports, the trade surplus widened to USD 59.5 billion in May (April: USD 34.1 billion) from USD 36.3 billion in the same month last year. The 12-month moving sum of the trade surplus rose from USD 503 billion in April to USD 527 billion in May, which marks an all-time high.