China's June Exports Surge 27% on AI-Driven Chip Demand, Trade Surplus Reaches USD 125.6 Billion

China's June Exports Surge 27% on AI-Driven Chip Demand, Trade Surplus Reaches USD 125.6 Billion

China: China's June exports increased 27% year-on-year, surpassing forecasts of 18.2%, driven by strong global demand for chips and AI computing power, while imports rose 36%, marking a five-year high and exceeding the expected 24% growth. The country's trade surplus widened to USD 125.6 billion from USD 105.4 billion in May, keeping China on track to record an annual surplus exceeding USD 1 trillion for the second consecutive year. Imports from South Korea and Taiwan climbed 85% and 41.1%, respectively, reflecting robust semiconductor demand, although economists noted that weak domestic demand and the prolonged property downturn continue to weigh on the broader economy.

Source: Reuters