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China's June export growth beats forecasts despite lockdowns
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Posttime:2021-07-19
CHINA's exports grew 32.2 per cent in June, a growth rate beating a forecast amidst easing Covid crisis lockdowns, reports CNBC News.
Exports grew 27.9 per cent in May, while analysts polled by Reuters forecasted a 23.1 per cent increase.
"Exports surprised on the upside in June, shrugging off the impact of the temporary Shenzhen port closure and other supply chain bottlenecks," said Oxford Economics head of Asia economics Louis Kuijs.
"The headline US$ numbers suggest that in real, sequential terms shipments held up in June, after having moderated earlier on from the record levels of end-2020," said Mr Kuijs.
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