On August 6, 2019, containers were parked at Yangshan Port in Shanghai, China.
Song Ali | Reuters
BEIJING – China’s exports grew faster than expected in May, while imports fell below expectations, customs data showed on Friday.
A Reuters survey showed that in U.S. dollar terms, exports in May grew 7.6% year-on-year, exceeding expectations for a 6% growth.
However, imports grew by 1.8% during the same period, below Reuters’ forecast of 4.2% growth.
In April, my country’s exports increased by 1.5% year-on-year, and imports increased by 8.4%.
Despite trade tensions with the United States, China’s exports have continued to grow and have helped support overall economic growth.
The Caixin Manufacturing Purchasing Managers’ Index showed that new export orders increased for the fifth consecutive month in May, but the growth slowed.
However, the International Monetary Fund said last week that global trade restrictions are increasing, with about 3,000 restrictions imposed last year, compared with 1,000 in 2019 before the outbreak.
This is breaking news. Please check back for updates.
