China’s exports grow 7.6% in May, beating expectations despite trade tensions

By ZEN SOO
Associated Press

HONG KONG (AP) — Official statistics say that China’s exports for May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations. The data released on Friday show exports jumped 7.6% in May from the same time last year to $302.35 billion. Imports rose by 1.8% to $219.73 billion, missing estimates of about 4% growth. In comparison, exports grew by 1.5% in April, compared to the same period last year while April imports rose by 8.4%. The strong exports caused China’s trade surplus to widen to $82.62 billion, up from April’s $72.35 billion. The growth in exports comes as China faces escalated trade tensions with the U.S. and Europe.