China’s exports rose for the first time in four months in June, official data show. Officials suggest it is a fresh sign that the world’s second largest economy is stabilising.
The Chinese General Administration of Customs said on Monday that China’s overseas shipments increased 2.8 percent year-on-year to US$192 billion in June. Its imports dropped 6.1 percent year-on-year, to US$145.48 billion last month, narrowing from a decline of 18.1 percent in May.
In the first six months of this year, China’s exports rose by 1 percent compared to the first half of 2014 while the country’s imports declined by 15.5 percent.
The value of total trade in the first half of this year dropped by 6.9 percent year-on-year to US$1.88 trillion, meaning China is likely to miss the official target of 6-percent growth for the whole year.
“Commodity prices fell significantly, dragging down growth in import value” in the first half of this year, Chinese Customs spokesman Huang Songping said. But he said he expects the trade performance in the second half to improve.
The Chinese National Bureau of Statistics also said earlier this month the Chinese economy was showing signs of “positive changes” in recent months.