Staff of Reuters 3 Minutes to Read (Adds TV available, more bullets) A man drives a vehicle carrying a container at a logistics center near Tianjin port on December 12, 2019, in Tianjin, China. Yilei Sun/Yilei Sun/Yilei Sun/Yilei Sun/Yile BEIJING, China (Reuters) – In June, China’s exports surged at a considerably quicker rate than projected, as viral outbreaks and port delays were overshadowed by strong global demand fueled by lessening lockdown measures and vaccination campaigns throughout the world. Imports also outperformed forecasts, but at a slower rate than in May, with values bolstered by high raw material prices, according to customs statistics released on Tuesday. The world’s largest exporter has made a decent economic recovery from the coronavirus-induced recession in the first few months of 2019 thanks to Beijing’s efforts in substantially curbing the epidemic earlier than its trade partners. In recent months, China’s trade performance has been hampered by a global semiconductor shortage, transportation bottlenecks, and increasing raw material and freight costs. Nonetheless, global relaxations in COVID-19 lockdown measures and vaccination campaigns appeared to support a large increase in global demand for Chinese commodities. In dollar terms, exports increased 32.2 percent in June compared to a year ago, compared to a 27.9% increase in May. Reuters polled analysts, who predicted a 23.1 percent increase. The robust cargo numbers reflected certain positive factory surveys conducted in other countries. In June, a measure of manufacturing activity in the United States reached a new high, while business growth in the Eurozone advanced at its quickest rate in 15 years. Imports surged 36.7 percent year over year last month, topping a prediction of 30.0 percent but decreasing from a 51.1 percent increase in May, which was the greatest rate in a decade. Last month, China had a $51.53 billion trade surplus, compared to the poll’s prediction of $44.2 billion and the $45.54 billion surplus in May. Last month, a small coronavirus outbreak in one of China’s major export centers in southern Guangdong Province was brought under control. Exporters, on the other hand, are dealing with greater raw material and freight prices, as well as logistical difficulties. Coal, steel, iron ore, and copper prices have soared this year, propelled by the lifting of economic restrictions in several countries and plentiful global liquidity. Stella Qiu and Gabriel Crossley contributed reporting, while Shri Navaratnam edited the piece./n
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