China’s exports grew faster than expected in May, according to official customs data. In dollar terms they rose by 7.6%, compared to an expected increase of 6% among economists polled by Reuters, reports the Financial Times. The growth is higher than any published figure since April 2023 and comes as a boost to policymakers eager to drive economic momentum as trade tensions rise.
Imports climbed 1.8% year-on-year, far behind forecasts.
The recovery in exports points to stronger overseas demand at a time when domestic consumption in China remains weak and has provided a further boost as officials target annual GDP growth of about 5% for 2024.