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Posted on : Saturday 7th March 2020 08:53 PM

China's Trade Surplus Soars, as Exports Unexpectedly Edge Up

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Chinese exports edged up in May, surprising markets, and yet experts say the rebound is very likely to be short-lived given higher U.S. tariffs and slowing global growth.

China's monthly trade surplus jumped 78% to $41.7 billion, as exports rose 1.1% to $213.8 billion and imports fell 8.5% to $172.2 billion, the Chinese customs agency said Monday.

The fall in imports demonstrates poor national demand, analysts said. The rise in exports came in spite of a worsening trade war with the United States in which both countries have raised tariffs on each other's products.

"While exports increased in May, weaker overseas demand and the rising trade war show that they will start to fall again before long," Capital Economics said in an analysis.

Citi Research, a division of Citigroup Global Markets, also said that improved export growth is likely to be transitory.

China's trade surplus with the United States rose to $26.9 billion, driven by a month-to-month increase in exports to $37.7 billion. Imports from the U.S. were up just a little from April at $10.8 billion.

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