China June exports jump at fastest pace since 2021, imports soar most in five years
NANJING, CHINA – JULY 09: Aerial view of new energy vehicles waiting for shipment at the Longtan Port Area of Nanjing Port in Nanjing, Jiangsu Province, China, on July 9, 2026.
Yang Suping | Visual China Group | Getty Images
China’s business growth accelerated much more than expected in June as rising global demand for AI hardware and a rush by U.S. retailers to get around expected tariff hikes accelerated shipments.
Overall exports rose 27% year-on-year in US dollar terms to their strongest level since October 2021, customs data showed on Tuesday; It sharply exceeded economists’ forecasts for growth of 18.2%, accelerating from a 19.4% increase in May.
Imports rose 36% in June, their biggest jump since June 2021; It exceeded economists’ 24% growth forecast, accelerating from 27.4% growth in May. trade surplus It amounted to 125.6 billion dollars in June.
According to CNBC’s official data, China’s exports to the USA increased by around 14 percent last month, while its imports increased by 26 percent. Shipments to Southeast Asian countries increased by approximately 35%, while imports increased by 27%.
Shipments to the European Union rose 18.5% and imports from the bloc rose more than 9%.
Factory activity picked up in June as orders to the United States posted sharp year-on-year increases, boosting freight rates, according to a survey by China Beige Book last month. Manufacturers are bracing for additional taxes from U.S. President Donald Trump’s Section 301 investigations, as the 10% broad-based tax is scheduled to expire on July 24.
Beijing is grappling with a deepening supply-demand imbalance as strong industrial production and exports driven by a global AI investment boom continue to support headline growth, even as consumption and private investment weaken amid a protracted housing crisis and volatile global oil prices.
The global AI investment boom has also helped mitigate the effects of the Middle East conflict and the global oil shock.
China is expected to announce second-quarter gross domestic product growth on Wednesday. Economists surveyed by Reuters expect growth to slow to 4.5% in the second quarter, following a solid 5% expansion in the first quarter.
For June, industrial production and retail sales are expected to increase by 4.7% and shrink by 0.1%, respectively, effective Wednesday. Urban investment is forecast to fall 4.9% in the first half of the year, deepening from 4.1% in the first five months, according to a Reuters survey.
Investors are now awaiting a Politburo meeting expected at the end of July for clues on stimulus that could shape policy for the rest of the year; But analysts do not expect meaningful stimulus unless growth slows more sharply, given resilient exports and Beijing’s focus on limiting excess factory capacity to combat deflation.
