China’s imports rose in June for the first time since the pandemic. Demand for goods rose on the government stimulus while exports also increased in a sign the recovery is gaining strength.
Customs data showed on Tuesday that China’s imports increased by 2.7% in June compared to last year, market expectations were a decrease of 10%.
Exports also rose, posting a 0.5% increase, indicating that global demand began to rise again as many countries eased Covid-19 measures that pushed the global economy into its most significant recession in 90 years. Analysts’ estimates were down 1.5% after falling 3.3% in May.
China’s imports from the United States increased by 11.3% in June.