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China trade surge in June lifts exports, imports and surplus

Exports rose 27.0% year on year to outpace forecasts, while integrated circuit exports more than doubled to USD 38.0B.

Reported · Written up by our desk · Major Pairs

China’s trade performance accelerated sharply in June, with exports up 27.0% year on year in US dollar terms, rising from 19.4% in May and beating expectations for 18.2%, according to Action Forex.

Imports also strengthened, climbing 36.0% year on year versus 27.4% previously and topping forecasts of 24.0%, lifting China’s trade surplus to USD 125.6B from USD 105.4B.

The improvement was broad-based across trading partners, with exports to the US rising around 14% and shipments to Southeast Asia surging about 35%, while exports to the European Union increased 18.5%.

Technology drove the gain, as exports of integrated circuits more than doubled from a year earlier to USD 38.0B, but energy was a notable exception, with crude oil imports falling 41% to 29.3 million tonnes.

Latest closeWTI crude $78.04 ▲9.3%

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