Chinese trade data, bucking the recent trend, has surprised to the upside in June.
From a year earlier, exports rose by 2.1%, the first increase recorded since February, while imports fell by 6.7%, far smaller than the decline expected. As a consequence, the nation’s trade surplus declined to $45.61 billion from $58.87 billion in May.
Markets had been expecting exports and imports to have declined by 0.5% and 15% respectively, leaving the trade surplus at $55.7 billion.
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