Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
BEIJING (AP) — Chinese exports edged up in May, surprising markets, but analysts say the rebound is 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 reflects weak domestic demand, analysts said. The rise in exports came despite a worsening trade war with the United States in which both countries have raised tariffs on each other's products.
"While exports rose in May, weaker global demand and the escalating trade war suggest that they will start to fall again before long," Capital Economics said in an analysis.
Citi Research, a division of Citigroup Global Markets, likewise said that improved export growth will likely 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 slightly from April at $10.8 billion.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.