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China’s trade surplus surged to $99.05 billion in June 2024 from $69.80 billion in the same period a year earlier, surpassing market expectations of $85 billion, marking the largest trade surplus since July 2022, as exports jumped while imports unexpectedly fell.
In June, China’s exports surged 8.6% year-on-year, marking the fastest growth since March 2023, exceeding forecasts of an 8% rise, and outpacing May’s 7.6% gain, amid improvement in global demand. However, this robust export data was offset by a significant decline in imports, which fell 2.3% year-on-year from a 1.8% rise in May, and well below market expectations of a 2.8% gain.
For the first half of 2024, the country recorded a surplus of $435 billion, with exports rising 3.6% to $1.71 trillion while imports advanced 2.0% to $1.27 trillion.
The Shanghai Composite rose 0.1% to 2,972 amid mixed trade on Friday.
ETFs: (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE).
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