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

By ZEN SOO
Associated Press

HONG KONG (AP) — China’s exports for May beat analyst expectations despite trade tensions, though imports shrank. That’s from customs data that was released Friday. Exports jumped 7.6% in May from the same time last year to $302.35 billion. Imports however rose by 1.8% to $219.73 billion, missing estimates of about 4% growth. In comparison, imports grew by 1.5% in April compared to the same period last year while April imports rose by 8.4%. Strong exports also saw China’s trade surplus widen to $82.62 billion, up from April’s $72.35 billion. China’s growth in exports come as it faces escalated trade tensions with the U.S. and Europe. The U.S. is ramping up tariffs on China-made electric cars while Europe is considering levying similar tariffs.