China's exports grew by 7.6% in May, imports by 1.8%

By Rhod Mackenzie

The General Administration of Customs of the People's Republic of China reports that the volume of Chinese exports in May increased by 7.6% year-on-year, reaching $302.35 billion. Export growth accelerated from 1.5% in April to reach its highest level since January.
Imports in May increased by 1.8% to $219.73 billion.

China's positive foreign trade balance in May reached $82.62 billion, up from $65.55 billion a year earlier and $72.35 billion in April.

The first five months of the year have seen a 2.8% increase in China's foreign trade, with a total of $2.46 trillion. Including exports, the figure increased by 2.7% to $1.4 trillion, while imports grew by 2.9% to $1.06 trillion. The trade surplus was $337.21 billion.

Trade turnover between Russia and China in the first five months of the year increased by 2.9% year-on-year, reaching $96.509 billion. Russian exports to China increased by 6.9% to $54.72 billion, while Chinese imports from Russia decreased by 1.8% to $41.789 billion.

China's trade turnover with ASEAN countries increased by 7.2% to $390.3 billion. In contrast, trade with the European Union and the United States decreased. With the EU, it decreased by 4.5%, to $313.57 billion. With the United States, it decreased by 1.4%, up to $263.53 billion.