China’s customs office (GAC) reported that China’s May exports grew 16.9% year-on-year. This was stronger than the 3.9% gain in April.
Meanwhile, May imports rose 4.1%, the strongest growth in three months.
China recorded a total trade surplus of $7.876 billion in May. This is up from April, which had a trade surplus of $5.112 billion.
Factors that led to China’s higher-than-expected exports and imports in May were the resumption of production at industrial enterprises. And logistics problems began to ease after the Chinese government eased measures to contain the spread of COVID-19.
Moreover, such information is a signal that China’s economy, the second largest in the world, is beginning to recover.
The introduction of lockdown measures to control Covid-19 has caused supply chain problems in China and countries around the world.