Mixed China Trade Data Shows Uneven Economic Recovery Continues

By Wang Xintong, Feng Yiming and Fan Qianchan

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Cars wait to be shipped at a port in Yantai, Shandong province, on Friday. Photo: VCG

China’s June trade data showed a mixed picture for the world’s second largest economy, with exports growing at the fastest pace in more than a year ahead of tariff hikes in the U.S. and the EU, while imports fell unexpectedly on weak domestic demand.

Exports in dollar terms rose 8.6% year-on-year to $307.9 billion last month, customs data showed Friday. The growth expanded from a 7.6% gain in May and was the highest since March 2023. It was also higher than the average estimate of 6.9% by economists from 15 domestic and overseas institutions surveyed by Caixin.

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In June, China's exports rose 8.6% year-on-year to $307.9 billion while imports fell 2.3% to $208.8 billion, indicating weak domestic demand.
Export growth was driven by manufacturers expediting shipments ahead of upcoming tariff hikes, with EU and U.S. exports increasing by 6.6% and 4.1%, respectively.
Despite strong overall auto exports, growth in new-energy vehicle exports slowed significantly compared to the first half of 2023.

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