China's exports jumped 19.4% in May from same month last year,customs data showed Tuesday. This beat economists' forecasts, big leap from April's 14.1% rise. Imports also surged, climbing 27.4%,up from 25.3% previous month.
Shipments to U.S . were key, soaring over 35% year-on-year, fastest since early 2021. April saw 11% growth. This comes after a long slump since Trump took office last year . Meanwhile,exports to Southeast Asia,Europe have been rising too.
Tech products,especially in automotive,AI sectors, have lifted export numbers. Demand for semiconductors,computing equipment strong, reflecting global tech boom. Wei Li at BNP Paribas called exports "shock-absorber" for China's economy,helping it through rising energy prices,inflation.
By category,semiconductor exports more than doubled in value,automotive exports up nearly 40%. BYD,China's largest electric vehicle maker,sold over 160,600 vehicles abroad in May,an 80% jump from last year. Advances in semiconductors,EVs likely to keep exports growing rest of year,according to Li.
Recent talks between Trump and Xi Jinping have raised hopes for better relations, especially after May meetings in Beijing . They agreed on boards of trade, investment to boost ties. But analysts warn recent U.S. export growth might be base effect following Trump's "Liberation Day" tariffs in April 2025,which had slashed shipments.
Looking ahead,Chinese leaders set modest growth target of 4.5% to 5% for 2026,below 2025's "around 5%" goal. Slowest target since 1991. Yet,ING's chief economist Lynn Song remains optimistic,saying a strong start could help China hit full-year growth goals…
