beijing (reuters) – china has reported thursday, a greater than expected increases in both exports to its imports in may, suggesting that the world’s second-largest economy is better than expected, despite an increase in the cost of money in the country, and a slowdown in the housing market.
concerns about the health of china came to the scene after moody’s investors service cut two weeks ago, the credit rating of the sovereign debt rating agency in china, who feared the erosion of the financial strength of the country in the years to come.
imports have held in recent months, the demand for iron ore and other raw materials for the construction industry, booming for a year. and exports have recovered the head lately due to an improvement in global demand.
but economists had expected a slowdown in the growth of trade in the last month, in a gradual loss of momentum of the chinese economy in the light of the measures taken by the government to curb real estate prices and stricter rules for loans are risky.
contrary to expectations, the rate of increase of exports and imports accelerated in comparison with the month of april.
chinese exports have increased by 8.7% on year in may, and imports by 14.8%, compared with + 8% and + 11.9% in april, official figures show, the general administration of customs.
these figures show a trade surplus of $40.81 billion (eur 36.3 billion) last month.
analysts polled by reuters had expected an increase of 7.0% of exports and an increase of 8.5% of imports. the trade surplus is expected to 46.32 billion, compared with 38,05 billion in april.
in the united states alone, china’s trade surplus amounted to $22.0 billion last month against 21,34 billion in april.
in early april, the president of the united states, donald trump and his chinese counterpart xi jinping agreed on the establishment of a 100 day plan to discuss trade issues between the two countries.
in this context, washington and beijing signed a little over a month on the one hand, the arrangements for trade in beef and poultry between the two countries, and, on the other hand, easier access for u.s. companies to pay for the chinese market.
(sue lin wong, with the contribution of the beijing office, tangi salaün and benoit van overstraeten for service in french)
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Translated by forexguides.info Team