China's exports rose sharply in June, defying expectations and offering a rare bright spot for the country's economy amid ongoing domestic challenges and global trade tensions.
According to official data released Monday by the General Administration of Customs, exports grew by 5.8% year-on-year, surpassing the 5% increase forecasted in a Bloomberg survey of economists. Imports also exceeded expectations, climbing 1.1% compared to the 0.3% gain projected.
The upbeat trade performance comes shortly after Beijing and Washington reached a preliminary agreement to ease longstanding tariff measures, following high-level talks in London last month. The deal signals a tentative thaw in U.S.-China relations after years of friction stemming from the Trump-era trade war.
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Exports have remained a crucial support for China's economy as it contends with significant internal hurdles, including a deepening property sector debt crisis, weak consumer confidence, and high youth unemployment.
Despite these headwinds, Chinese exports reached record levels in 2024, and June's data suggests that global demand for Chinese goods remains robust a potentially stabilizing force for the world's second-largest economy.
Economists will be closely watching whether the positive trade momentum can be sustained in the second half of the year, particularly as negotiations over trade terms between China and key partners continue.
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