China's May Exports Rise 19.4% YoY, Exports to US Jump 35.6%

(CNA, Taipei, 9th) China's General Administration of Customs announced today that in May, dollar-denominated exports increased by 19.4% year-on-year, and imports grew by 27.4%, both higher than market expectations. A Reuters report indicated a belief that overseas buyers made advance purchases to cope with rising energy costs from the Middle East war, and that stable demand for semiconductors and artificial intelligence hardware also boosted exports.

According to data released by the General Administration of Customs, from January to May this year, dollar-denominated exports increased by 15.5% year-on-year, while imports grew by 24.5%, resulting in a trade surplus of $451.71 billion. China's trade surplus in May was $105.43 billion.

In yuan terms, China's May exports rose by 13.8% year-on-year, and imports increased by 21.5%, with a trade surplus of 723.98 billion yuan. From January to May, China's exports grew by 11.8% year-on-year, and imports rose by 20.5%.

China's exports to the United States in May increased by approximately 35.6% year-on-year to $39.03 billion, while imports from the United States grew by about 20.3% to $13.01 billion.

A Reuters report today stated that the Middle East conflict has not yet impacted China's exports, but economists say that when overseas buyers' inventories peak and costs rise, they will start to reduce their stocks while awaiting a ceasefire. (Editors: Chen Kai-yu / Chu Chien-ling) 1150609