China\u2019s vast export sector continued to defy headwinds from the US-Israel war on Iran in May, as shipments skyrocketed on the back of increased demand for products related to artificial intelligence and a spike in US imports as trade relations continued to recover in the aftermath of the bilateral tariff war.<\/p>\n
The country\u2019s exports rose by 19.4 per cent year on year to US$376.78 billion in May, according to Chinese customs data released on Tuesday. The reading was significantly higher than a forecast of 12.39 per cent growth from economists polled by financial data provider Wind.<\/p>\n
China also saw imports grow by 27.4 per cent last month to US$271.35 billion, surpassing projections of 20.15 per cent growth in a Wind poll. That brought China\u2019s trade surplus to US$105.43 billion last month, up from US$84.82 billion in April.<\/p>\n
\u201cThe momentum is bolstered by the global AI story, with increased trade in electronics and higher prices driven by strong demand,\u201d said Gary Ng, senior economist for the Asia-Pacific region at Natixis. \u201cIt shows that China remains competitive in exports, and that higher global inflation has not yet affected demand.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"China\u2019s vast export sector continued to defy headwinds from the US-Israel war on Iran in May, as shipments…\n","protected":false},"author":2,"featured_media":490376,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[38716,2102,72,114,969,113,5148,61,11829,60,3410,19144,1196,150177,90,33314,167391,3591,7855],"class_list":["post-490375","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-association-of-southeast-asian-nations","tag-beijing","tag-business","tag-china","tag-donald-trump","tag-economy","tag-european-union","tag-ie","tag-iran","tag-ireland","tag-israel","tag-latin-america","tag-middle-east","tag-strait-of-hormuz","tag-us","tag-us-china-trade-war","tag-us-israel-war","tag-white-house","tag-wind"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/490375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=490375"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/490375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/490376"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=490375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=490375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=490375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}