The number of China’s exports rose 1.1% YoY, it was higher than the market estimate. On the contrary, the import was declined by 8.5% YoY which was higher than the expectation. As a result of an increase in export, China’s trade surplus rose to $41.65 billion in May, it was higher than expectation $22.3 billion.
The increase of China’s export goods surprised all of the analysts due to previously the trade deal between the U.S. and China was very intense, beating analysts estimation of 3.9% decrease.
On the other hand, the expectation of goods importing was -8.5% YoY weakest in almost 3 years and also lower than what analysts had expected at -3.5%.
However, there are some Analysts suspected that in this case of a high number of exportation might be a result from Chinese exporters wanted to export the good as much as they can before the new imposed tariff on $300 billion of goods actually kicking in a few months.