exports jumped in June, exceeding forecasts

Chinese exports jumped in June, according to official data published on Monday, going beyond forecasts of economists. Furthermore, Washington and Beijing have entered into a temporary agreement to reduce their trade tensions.

According to Chinese customs, exports climbed 5.8% over a year in June, exceeding forecasts of economists surveyed by the Bloomberg agency, which tabed on an increase of 5%. In addition, Imports also climbed 1.1% over the same period compared to last year, exceeding expectations (+0.3%).

Last year, Chinese exports reached record levels, acting as an engine for a loss saving.

China is struggling to maintain its levels of growth past since the end of the COVVI-19 pandemic. due to a long crisis in the real estate sector, chronically low interior consumption and high unemployment among young people. The trade war with the United States. launched at the start exports jumped june, exceeding forecasts of the year by US President Donald Trump, aggravated the situation.

Second uncertain trimester

‘The vigor of exports contributes in part to compensate for the weakness of domestic demand. should make it possible to maintain the growth of GDP around the government objective of 5% in the second quarter,’ analyzes economist Zhiwei Zhang, of Pinpoint Asset Management.

But ‘the prospects for the second half of the year remain uncertain’, he adds. Washington. Beijing were certainly granted on the framework of an agreement during discussions in London last month, but the disputes persist.

According to Chinese customs data, Chinese exports for the United States increased by 32.4% in June compared to the previous month. China sent some $ 38.2 billion in the United States last month, compared to $ 28.8 billion in May.

Beijing ‘hopes that the United States will continue to work with China in the same direction. “the Chinese exports jumped june, exceeding forecasts customs manager Wang Lingjun said on a press conference reported by the public channel CCTV on Monday.

‘The blackmail and coercion do not lead anywhere. Dialogue and cooperation are the right way to follow ‘, he added.

/ATS