China on Tuesday reported a jump in exports for June by 4.3% from the same period of last year, while imports soared 6.2% YoY, according to the Chinese customs as the yuan dominated the trading.
Meanwhile, China’s exports to the U.S. slumped 8.1% in the first half of 2020 when compared to the same period of last year and imports from the U.S. also dropped 1.5%.
China is the first country to come out of lockdown after a devastating coronavirus outbreak since December last year. Investors are using China’s economic data as a guideline to forecast a recovery period after the outbreak. However, things are different compared to the outbreak in China as the virus resurgence keeps appearing in countries that have just eased their lockdown and begun to recover such as South Korea, Singapore, Hong Kong and the U.S.