China's exports rises by 13% in June while Imports grows 17 %

Posted by Daily Shipping Times on 14-07-2017        Tweet

BEIJING: Growth in Chinese exports and imports outstripped expectations in June, data showed, fuelling hopes of stability in the world's second-largest economy.

Exports rose 11.3 per cent from a year ago to USD 196.59 billion, the customs administration said, topping a Bloomberg News forecast of 8.9 per cent.

Imports were up 17.2 per cent year-on-year, compared with an expected increase of 14.5 per cent, to USD 153.83 billion, lifting the trade surplus to USD 42.76 billion.

The latest data could soothe concerns that the Chinese economy is losing momentum as Beijing clamps down on free- wheeling credit and property purchases that have been key drivers of growth for years.

It also comes ahead of US-China talks in Washington next week where they are expected to assess the results of a 100- day action plan aimed at improving trade ties between the economic rivals.