BEIJING, June 7, 2024 (BSS/AFP) - China's exports accelerated far more than
expected in May but imports slowed, official figures showed Friday, in
further evidence of an uneven recovery for the world's number two economy.

Overseas shipments surged 7.6 percent on-year in dollar terms, the General
Administration of Customs said -- much better than April's 1.5 percent and
also beating the 5.7 percent forecast in a Bloomberg survey of analysts.

Exports have historically served as an important economic engine in China,
with overseas sales performance having a direct impact on employment for
thousands of companies.

The latest figures represent a second consecutive month of growth, following
a brief year-on-year decline of 7.5 percent in March.

But various headwinds facing China's trade outlook remain, with combined
exports and imports with the United States down 1.4 percent in May amid
continuing geopolitical spats between the superpowers.

Trade between China and Russia grew 2.9 percent last month, though Chinese
exports to its neighbour fell for the first time since 2020.

Beijing and Moscow have strengthened economic and political ties since
Russia's invasion of Ukraine in 2022 -- a decision that China has not
condemned.

China's total imports grew 1.8 percent on-year in May, the data showed, down
from the 8.4 percent surge recorded in April.

A highly anticipated economic recovery in China following the scrapping of
tight pandemic restrictions in late 2022 has been less robust than expected.

Beijing policymakers now face an uncertain economic situation, as a debt
crisis in the real estate sector and high youth unemployment threaten to
weigh down consumer confidence.

The latest jump in exports brought China's trade surplus to $82.6 billion,
from $72.4 billion in April.