China’s exports surged nearly 28% in May while imports jumped 51% as demand rebounded in the U.S. and other markets where the pandemic is waning, though growth is leveling off after a stunning recovery from last year’s slump.
China has led the global recovery from the pandemic, which is still raging in many parts of the globe but receding in places where vaccinations have been widely deployed.
Customs data released Monday showed total exports climbed 40% in the first five months of the year from a year earlier. They were up 29% from the same period in 2019.
The boost from last year’s slump is fading, however, and the $263.9 billion in Chinese exports in May was about level with the previous month. China’s imports of $218.4 billion in May were 1.2% lower than in April.
China’s trade surplus in May was $45.53 billion, down 26.5% from a year earlier.