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China June trade data tops forecasts on exports and imports
Exports rose 27.0% year over year and imports jumped 36.0%, lifting the surplus to about $125.6 billion.
China’s June trade report significantly beat expectations on both exports and imports, signaling stronger demand tied to AI investment and shipment front loading ahead of potential new U.S. tariffs, according to Forexlive.
Exports increased 27.0% year over year, reaching their best level in four months and the fastest pace since 2021, compared with an 18.2% forecast and 19.4% in May.
Imports rose 36.0% year over year to a five year high, versus a 24.0% forecast and May’s 27.4% gain. That pushed the trade surplus wider to around $125.6 billion from $105.4 billion in May, above expectations of roughly $121.0 billion.
The outlet said demand for semiconductors and other AI linked technology products helped cushion manufacturers in China’s roughly $20 trillion economy, even as the property downturn and global uncertainty remain headwinds. With GDP due Wednesday, the print raised the bar for that release and added to arguments that near term growth resilience may be stronger than feared.