China's trade surplus soars, as exports unexpectedly edge up

A boat sails past a cargo ship loading containers at a port in Qingdao in eastern China's Shandong province, Monday, June 10, 2019. China has reported a sharp jump in its trade surplus for May, as imports fell off and exports edged up. (Chinatopix via AP)
Trucks move shipping containers at a port in Qingdao in eastern China's Shandong province, Monday, June 10, 2019. China has reported a sharp jump in its trade surplus for May, as imports fell off and exports edged up. (Chinatopix via AP)

BEIJING — Chinese exports edged up in May, surprising markets, but analysts say the rebound is likely to be short-lived given higher U.S. tariffs and slowing global growth.

China's monthly trade surplus jumped 78% to $41.7 billion, as exports rose 1.1% to $213.8 billion and imports fell 8.5% to $172.2 billion, the Chinese customs agency said Monday.

The fall in imports reflects weak domestic demand, analysts said. The rise in exports came despite a worsening trade war with the United States in which both countries have raised tariffs on each other's products.

"While exports rose in May, weaker global demand and the escalating trade war suggest that they will start to fall again before long," Capital Economics said in an analysis.

Citi Research, a division of Citigroup Global Markets, likewise said that improved export growth will likely be transitory.

China's trade surplus with the United States rose to $26.9 billion, driven by a month-to-month increase in exports to $37.7 billion. Imports from the U.S. were up slightly from April at $10.8 billion.

People also read these

N. Korea says UN condemnation of missile tests 'provocation'

Aug 27, 2016

North Korea has expressed anger at United Nations Security Council discussions over a statement denouncing the country's latest submarine-launched missile test

Crews to retrieve plane from lake; 2 men still missing

Aug 29, 2016

Authorities say that a small plane that crashed in Lake Pontchartrain in New Orleans had been chartered by a couple taking an aerial tour of the city

Australian man with British title to stay jailed in Vegas

Aug 31, 2016

A judge has ordered an Australian man who claims to hold a British royal title jailed in Las Vegas until at least until next month pending the resolution of multiple felony charges against him

Walk The Biz welcomes all casual and easygoing readers who seeks to digest business travel to international trade policy to starting in the transportation & shipping industry.

Contact us: sales@walkthebiz.com

Subscribe to our newsletter now!

Name:

Email: