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China’s exports fall 4.1% in May, imports beat estimates

by ChemOrbis Editorial Team -
  • 08/06/2016 (16:42)
According to data released by China’s General Administration of Customs, the country’s exports fell 4.1% in dollar terms from a year earlier due to persistently weak global demand while imports posted a slight decrease of 0.4% on the year in May, the slowest rate of decline since November 2014. Reuters economists expected May exports to fall 3.6% after a 1.8% decline in April and they also expected imports to fall 6% following a decrease of 10.9% in the previous month. The data showed that China’s shipments to the US fell 12% while exports to the EU declined 2.1% in dollar terms in May.

Accordingly, the country’s trade surplus was reported at $49.98 billion in May from April’s $45.6 billion.

In yuan terms, China’s May exports and imports rose 1.2% and 5.1%, respectively, from a year earlier.
Some economists commented that China’s exports showed signs of stabilizing in May and that a weaker yuan supported the country’s trading activities.

Meanwhile, domestic demand pushed up China’s car sales in May. The country’s car sales rose 11% to 1.76 million units in May, according to data from the China Passenger Car Association.
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