China’s trade with the rest of the world rose again sharply in May due to the economic recovery from the corona crisis.
Imports from China, in particular, rose sharply as a result of sharply rising raw material prices.
The value of imports from the world’s second-largest economy jumped more than 51 percent last month compared to a year earlier. That is the strongest increase in ten years.
This is due, for example, to the increased prices for oil, iron ore, metals, coal and other important raw materials for Chinese industry that have to be imported from abroad.
China’s exports to the rest of the world increased almost 28 percent year-on-year last month, slightly less than in April when it was still a plus of more than 32 percent.
However, demand for Chinese goods and products remains strong as economies continue to open and lockdowns against the coronavirus are eased.