onsdag 14. juli 2021

Rise in China’s imports and exports eases fears over global growth

China’s exports and imports both rose strongly in June, helping ease concerns over global growth that have knocked financial markets in recent days. Exports grew by 32% year on year in June to $281bn (£203bn), according to figures from China’s General Administration of Customs. This is up from the 28% growth recorded in May, and better than analysts had expected. It marks 12 months of continuous export growth. Imports were also stronger than expected, up 36.7% in June from a year earlier to $230bn, although the growth rate slowed from May’s 51%. China’s trade surplus rose to $51.5bn in June from $45.5bn in May.

In the first half of the year, China’s exports rose 38.6% to $1.5tn while imports climbed 36% to $1.3tn. This was a 22.8% increase compared with the pre-pandemic level in the first half of 2019. The country’s trade surplus was $251bn.