China’s trade surplus rises sharply in May as imports fall
BEIJING (AP) — China has reported a sharp jump in its trade surplus for May, as imports fell off and exports edged up.
The Chinese customs agency said Monday that the trade surplus rose 78% to $41.7 billion. Imports fell 8.5% to $172.2 billion, while exports rose 1.1% to $213.8 billion.
The drop in exports comes during a trade war with the United States in which both countries have raised import tariffs on each other’s products.
China’s trade surplus with the United States rose to $26.9 billion, driven by an increase in exports to $37.7 billion. Imports from the U.S. were up slightly at $10.8 billion.