The volume of China’s foreign trade in January-May increased by 8.3% compared to the same period last year and reached 16.04 trillion yuan, the country’s General Administration of Customs said. Including last month, the figure rose by 9.6% to 3.45 trillion yuan. In dollar terms, the volume of foreign trade for five months increased by 10.3% – up to $2.51 trillion. Exports increased by 13.5% and reached $1.4 trillion, imports – by 6.6%, amounting to $1.11 trillion. The foreign trade surplus amounted to $290.46 billion. In May, exports jumped by 16.9%. Analysts, on average, expected an increase of only 8%, according to the results of polls by Trading Economics and The Wall Street Journal. Imports increased by 4.1%, which was the first increase in three months. The average forecast of experts was 2%, according to Trading Economics. The Wall Street Journal respondents assumed 2.5%. The sharp increase in exports is due to the recovery of the Chinese economy after the lockdowns, the reopening of enterprises and the easing of problems in supply chains. Source: FINMARKET.RU

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