China's June exports beat forecasts

Following trade deal with US, China's June exports up 5.8% year-on-year

By Gokhan Ergocun

ISTANBUL (AA) – China’s foreign trade figures exceeded expectations in June following a trade deal with the US.

The country’s exports rose by 5.8% year-on-year in June, surpassing the market forecast of 5%, official figures showed on Monday.

Meanwhile, China’s imports increased by 1.1%, beating the 0.3% forecast. It also marked the first growth in imports this year.

A trade deal between Washington and Beijing was reached in mid-June to reduce high tariff rates imposed by US President Donald Trump.

According to the deal, the US is applying a total of 55% tariffs, while China is imposing 10%, Trump previously announced.

In the first half of the year, China’s foreign trade rose by 2.9%.

Exports were up 7.2%, while imports dropped by 2.7% over the same period.

Kaynak:

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