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China's May exports rise 27.9per cent year on year, imports +51.1per cent year on year

China's May exports rise 27.9per cent year on year, imports +51.1per cent year on year

Cranes and containers are seen at the Yantian port in Shenzhen, following the COVID-19 outbreak, Guangdong province, China, May 17, 2020. (File photo: REUTERS/Martin Pollard)

BEIJING: China's exports rose 27.9per cent in May from a year earlier, missing forecasts, while imports increased 51.1per cent, customs data showed on Monday, as the world's second-largest economy continued its recovery from last year's pandemic slump.

Analysts in a Reuters poll of economists had forecast exports would jump 32.1per cent from year earlier and for imports to rise 51.5per cent.

China posted a trade surplus of US$45.53 billion in May, compared with the poll's forecast for a US$50.5 Billion surplus and widening from US$42.86 billion surplus in April.

(Reporting by Liangping Gao and Ryan Woo; Editing by Sam Holmes)

Source: Reuters

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