China's trade surplus increases in May despite a larger-than-expected surge in exports.



China's Trade Balance for May, in Chinese Yuan terms, came in at CNY586.40 billion, increasing from the previous figure of CNY513.45 billion.

Exports increased by 11.2% YoY in May, compared to 5.1% in April. Imports increased by 5.2% year on year during the same time, compared to 12.2% previously.

In US dollars, China's trade surplus decreased in May.

The trade balance came in at +82.62 billion, compared to +73 billion projected and +72.35 billion previously.

Exports (YoY) increased by 7.6%, compared to 6.0% projected and 1.5% previously.

Imports (YoY): 1.8%, compared to 4.2% projected and 8.4% last year.

Additional takeaways.
Chinese Jan-May USD-denominated export +2.7% YoY.

China Jan-May USD-denominated Imports +2.9% YoY.

China could be running a trade surplus with the United States of $30.8 billion.

China's January-May trade surplus with the United States was $128.2 billion.