China’s trade surplus widened sharply in May, driven by stronger-than-expected exports and imports, lifting the Australian Dollar.
China’s trade surplus surged to CNY723.98 billion in May, up from CNY585.69 billion in April, as exports rose 13.8% year-over-year compared to 9.8% in the prior month. Imports climbed 21.5% YoY, accelerating from 20.6% in April, reflecting robust domestic demand and semiconductor-related shipments.
In USD terms, the trade surplus reached $105.43 billion, exceeding expectations of $92.1 billion and the previous $84.82 billion. Exports grew 19.4% YoY, outpacing the 15.0% forecast, while imports rose 27.4%, slightly above the 25.0% consensus.
The Australian Dollar gained modestly, with AUD/USD rising 0.04% to 0.7045, recovering from multi-week lows as traders reacted to the stronger Chinese data.