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China’s exports rose by 4.8% in May compared to the same period last year, as recently released customs data reveals. However, this increase was slightly below market expectations due to a significant downturn in shipments to the United States, which declined by nearly 10%.
This decline in US-bound exports underscores the ongoing challenges in the trade relationship between the two nations, especially as they prepare for a new round of negotiations aimed at resolving issues related to tariffs and trade barriers.
In addition to export figures, China experienced a 3.4% drop in imports during May, indicating weaker domestic demand. Despite the decrease in shipments to its largest trading partner, China’s overall export growth was supported by stronger demand from other international markets.
Key Points
- China’s exports grew by 4.8% in May year-on-year.
- Shipments to the US fell by nearly 10%, impacting total export growth.
- Imports declined by 3.4%, reflecting soft domestic demand.
- Ongoing trade tensions persist amid forthcoming US-China trade talks.
- Export growth driven by demand from markets other than the US.
Traders and analysts remain alert to the outcomes of the upcoming trade talks, which may significantly influence trade flows and economic relations between these two global economic powers. For continual updates on this developing story, stay tuned to Questiqa USA.
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