China trade defies Iran war drag as exports, imports beat estimates in May

From cnbc.com

China’s trade growth held up better than expected in May, as surging AI-related exports helped buffer the economy against disruption from the Iran war. Exports rose 19.4% from a year earlier in U.S. dollar value terms, customs data showed Tuesday, accelerating from the 14.1% gain in April. Economists polled by Reuters had pegged growth at 15%. Imports growth momentum continued to build, expanding 27.4% in May, the outpacing from 25.3% in April, beating economists’ forecast for a 25% growth. The import surge has largely been driven by higher input costs and narrowly concentrated in select categories, particularly ... (full story)