China exports slump in May
By Frank Prenesti
Date: Wednesday 07 Jun 2023
(Sharecast News) - China's exports fell last month in another indication that the rebound in the world's second-largest economy was losing steam.
Exports fell by 7.5% in May to $283.5bn on an annual basis, a sharp reversal from the increase of 8.5% in April, data released by China Customs showed.
The May figure was below the expectations of a fall of 0.1%. Imports fell by 4.5% to $217.7bn, up from a fall of 7.9% in April, and above expectations of a 6.8% fall.
China's trade surplus was $65.8bn in May compared to $90.2bn in the previous month.
Reporting by Frank Prenesti for Sharecast.com
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