BEIJING: China's exports surged more than expected last month, official data showed Tuesday, providing a much-needed boost to the world's number two economy despite global disruptions caused by the war in the Middle East.

Overseas shipments rose 27% year-on-year, beating the 19% forecast in a Bloomberg survey of economists.

The figures from the General Administration of Customs (GAC) also showed imports soared 36.0%, easily outstripping the 26.1% estimated in the Bloomberg survey, and well up from the 27.4% jump seen in May.

Shipments to the United States rose 13.9% to $43.5 billion last month, putting China's trade surplus with its superpower rival at $28.9 billion.

Ties between Washington and Beijing have stabilized since Donald Trump visited Beijing in May, but the persistent trade imbalance remains a source of friction between the two giant economies.

China is also locked in a simmering trade feud with the European Union, with which it recorded a trade surplus of $32.9 billion in June, a rise from $30.7 billion in May.

June's trade data "showcases the competitiveness and resilience of China's manufacturing sector," Zhang Zhiwei of Pinpoint Asset Management wrote in a note.

"It also puts further pressure on the trade tension between China and its trading partners, Europe in particular," he said.

China's overall trade surplus hit $126 billion last month, up from $105 billion in May, a gap that is worrying European economies and other governments.

Articles tagged with "China economy"

China says exports soar more than forecast in June

China says exports soar more than forecast in June