China’s export growth slowed last month amid lingering uncertainty over US tariffs, pointing to continued strain in the country’s manufacturing and trade sectors – and the slight uptick could also reflect front-loading by exporters anticipating future disruptions.
China’s May exports were up by 4.8 per cent, year on year, to US$316.1 billion, customs data showed on Monday.
The figure followed April’s 8.1 per cent growth and fell short of the estimate of a 6.28 per cent increase in a market survey by Chinese financial data provider Wind.
Exports to the United States plunged by 34.52 per cent, sharper than the 21 per cent drop seen in April, owing to the trade war between the two countries.
Shipments to members of the Association of Southeast Asian Nations – China’s largest trading partner and a key transshipment hub – rose by 14.84 per cent in May.
Imports, meanwhile, fell by 3.4 per cent, year on year, compared with a 0.2 per cent downtick in April. Wind predicted a 0.7 per cent increase.
China’s trade surplus stood at US$103.2 billion in May, up from US$96.18 billion in April.
