China’s Trade Volumes Rise, But Growth Slows

China’s Trade Volumes Rise, But Growth Slows

China’s exports outperformed imports in June, but year-over-year growth slowed compared to May.

China’s exports increased 11.3 percent year-over-year to total $180 billion last month. However, the rate of year-over-year growth slowed from the May figure of 15.3 percent.

China's imports rose to $148 billion in June, up 6.3 percent compared to a year earlier but representing a slower growth rate than the preceding month when growth of 12.7 percent was recorded.

A spokesman for the General Administration of Customs said China’s total trade increased 8 percent in the first half of the year to total nearly $2 trillion.

The United States displaced the European Union as China's largest export market during the period, he added.

At the start of the year, China’s government said it planned to increase imports and exports by 10 percent year-over-year in 2012, but growth of only 6.9 percent in exports and just 5.1 percent of imports was recorded in the first four months of the year.

Contact Mike King at michael@borderline.eu.com.