China’s May trade balance (CNY): Surplus shrinks as imports jump

Dhwani Mehta FXStreet

China's trade balance for May, in Yuan terms, came in at CNY 156.51bn versus CNY 148.31bn expected and CNY 182.8bn last. Exports came at +3.2% y/y vs +1.7% expected and +3.7% last, while imports were +15.6% y/y vs +8.6% expected and +11.6% last.

“Trump has long criticized China's widening trade surplus with the US. In response, China has offered to China has offered to purchase close to $70 billion worth of US good over the next year, according to the Wall Street Journal, but has vowed to fight back if Trump still imposes tariffs on Chinese goods,” Omkar Godbole at FXStreet’s Analyst noted.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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