China reported better than expected for the month of June as the recovery of global demand driven export trade.
In June, world economy’s exports rose 11.3 percent from the previous year and an increase of 17.2 percent of imports in the same period in dollars, Reuters reported, citing the China Customs Administration.
This left China on the trade balance of 42.77 billion Euros per month, higher than the forecast for Reuters 42.440 million.
Reuter’s analysts expect exports to grow by 8.7 percent, while imports will increase by 13.1 percent
Chinese data was closely watched by investors for fear of slowing growth and rising debt levels in the country.
Positive data trade in June came after China reported imports and exports stronger than expected a month ago.
Import has been strong in recent months, mainly iron ore and other raw materials used to feed construction boom throughout the year, while exports recovered with increased global demand after several years of contraction.
“Looking ahead, we expect growth in exports to slow down uncertainty in foreign demand due to the rise in geopolitical risks and higher CNY / USD exchange rates in the first half of 2017,” they wrote analysts Nomura.
“Growth of imports could moderate, as well as export growth in our cooling For housing market guests (in terms of sales) is likely to lead to a slower growth in domestic investment, which may also impact on the growth of imports.”
China recorded a trade surplus of $ 25,400 million in June, versus 22,000 million in May, according to customs figures Thursday.
According to Reuters, the surplus with the United States is the highest in China since October 2015, when it was 25,500 million.