Business Today
Loading...

Coronavirus impact: China's exports shrink 3.3% in May; import plunges to 16.7%

China posted a trade surplus of $62.93 billion last month

twitter-logoReuters | August 11, 2020 | Updated 13:45 IST
Coronavirus impact: China's exports shrink 3.3% in May; import plunges to 16.7%
China's exports in May fell a less-than-expected 3.3% compared with a year earlier, but imports plunged 16.7%

China's exports in May fell a less-than-expected 3.3% compared with a year earlier, but imports plunged 16.7%, customs data showed on Sunday.

Analysts in a Reuters poll had forecast exports would tumble 7% from a year earlier after a 3.5% gain in April.

Imports were estimated to have contracted 9.7%, recovering from a slide of 14.2% in April.

China posted a trade surplus of $62.93 billion last month, compared with the poll's forecast for a $39 billion surplus and $45.34 billion surplus in April.

Also read: Coronavirus imapct: Volkswagen mulls more cost cuts to counter downturn

Also read: Vedanta FY20 results: Company suffers Rs 6,664 crore loss; revenue drops to Rs 83,545 crore

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close