May export growth exceeded forecasts, driven by semiconductor and automotive shipments, easing concerns over energy cost pressures.
China’s exports rose 19.4% year-over-year in May, accelerating from April’s 14.1% gain and topping the 15.0% consensus estimate. The increase was fueled by strong demand for chips, automobiles, and AI-related technology products.
The print marked the fastest growth since early 2023, contrasting with softer domestic demand trends. Analysts noted the resilience in high-tech sectors helped counterbalance rising energy costs tied to geopolitical tensions.
Markets reacted cautiously, with the yuan steadying and Asian equities edging higher on signs of external demand strength.