China's Exports to U.S. Plunge 35% in May Amid Renewed Trade Talks
- brg_news_room
- 5 days ago
- 1 min read
CHINA: China’s exports to the United States dropped by 35% in May compared to the same month last year, according to newly released customs data. The decline adds further strain to the world’s second-largest economy, just as fresh trade talks with Washington were set to begin later on Monday in London.
Overall, China’s exports rose by 4.8% in May, a slowdown from the 8.1% year-on-year growth recorded in April. Meanwhile, imports fell 3.4% year-on-year, resulting in a trade surplus of $103.2 billion.
Exports to the U.S. totalled $28.8 billion in May, down from $44 billion a year ago. Imports from the U.S. also declined, reaching $10.8 billion.
Despite the dip in trade with the U.S., China’s exports to Southeast Asia and the European Union remained strong, increasing by 14.8% and 12% respectively. Exports to Thailand, Vietnam, and Indonesia saw significant gains, while shipments to Germany rose by over 12%.
Source: AP News
