China June exports fall 1.3pc y/y; imports drop worse-than-expected 7.3pc

Containers are seen at a port in Lianyungang, Jiangsu province, China, June 10, 2019. — Reuters pic
Containers are seen at a port in Lianyungang, Jiangsu province, China, June 10, 2019. — Reuters pic

BEIJING, July 12 — China’s exports in June fell 1.3 per cent from a year earlier, customs data showed today, but the drop was less than expected amid mounting pressure from US tariffs.

Analysts surveyed by Reuters had tipped exports to fall 2.0 per cent from a year earlier, after May’s data showed an unexpected increase of 1.1 per cent. While China is not as dependent on exports as in the past, they still account for nearly a fifth of its gross domestic product.

Imports in June fell 7.3 per cent from a year earlier, sharper than a 4.5 per cent decline tipped by analysts but less than a 8.5 per cent drop in May.

That left China with a trade surplus of US$50.98 billion last month, compared with a US$41.66 billion surplus in May. Analysts had forecast a surplus of US$44.65 billion for June. — Reuters

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