Business

China's June exports rise 32.2per cent y/y, beat forecast; imports up 36.7per cent

China's exports in June beat expectations and rose at a faster pace of 32.2per cent from a year earlier, thanks to strong global demand, while imports increased 36.7per cent, customs data showed on Tuesday.

FILE PHOTO: Containers are seen at the Yangshan Deep-Water Port in Shanghai
FILE PHOTO: Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song

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BEIJING: China's exports in June beat expectations and rose at a faster pace of 32.2per cent from a year earlier, thanks to strong global demand, while imports increased 36.7per cent, customs data showed on Tuesday.

Analysts in a Reuters poll had forecast exports would grow 23.1per cent year-on-year after rising 27.9per cent in May.

Imports were estimated to have increased 30per cent, retreating from a decade-high growth of 51.1per cent in May.

China posted a trade surplus of US$51.53 billion in June, compared with the poll's forecast for a US$44.2 billion surplus and the US$45.54 billion surplus in May.

(Reporting by Gabriel Crossley; Editing by Shri Navaratnam)

Source: Reuters