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China enjoys 17.9pc export hike, but don't expect it to last
Date:2022-07-19 Readers:
CHINESE exports grew 17.9 per cent year on year in June as trade picked up following the easing of pandemic lockdowns and logistics bottlenecks in its ports, reports the Wall Street Journal.

But economists still say the trade uptick is unlikely to last, as rate increases by the US Federal Reserve and other central banks to cool inflation weigh on global growth.

Chinese exports rose 17.9 per cent in June compared with a year earlier, said China's General Administration of Customs. This beat the 12 per cent forecast of economists polled by the Wall Street Journal and exceeded the 16.9 per cent pace recorded in May.

The pickup was led by an increase in exports to the US and countries in southeast Asia. Exports to the US rose 19.3 per cent on the year, accelerating from a 15.8 per cent annual pace in May.

Export growth to the European Union slowed as an energy crunch caused by Russia's invasion of Ukraine and Western sanctions in response suppressed consumer and business demand.

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