China’s exports surged more than anticipated in May, fueling optimism about the resilience of the world’s second-largest economy amid looming tariff threats.
According to the customs administration’s report on Friday, exports climbed by 7.6% in dollar terms compared to the previous year, while imports saw a more modest increase of 1.8%. This resulted in a trade surplus of nearly $83 billion for the month. Economists had projected a growth of 5.7% for exports and 4.3% for imports.
Bruce Pang, the chief China economist at Jones Lang LaSalle, commented on the robust export performance, attributing it to China’s sustained global market presence, the advantageous exchange rate of the yuan, and exporters’ proactive measures ahead of potential tariff escalations in export markets.
The stronger-than-expected export figures suggest that China’s economy may continue to thrive by leveraging foreign markets, even in the face of escalating trade tensions. This resilience underscores China’s pivotal role in the global economy and its ability to navigate through challenging geopolitical dynamics.
