Key facts
- China's exports rose 27% year-on-year in June, reaching $412.4 billion.
- Imports surged 36% to $286.8 billion in June.
- The growth was driven by demand for AI-related semiconductors and technology.
- Chip exports nearly doubled in the first half of the year.
- The export performance highlights reliance on overseas buyers amid a sluggish domestic economy.
China's exports and imports surged at their fastest pace in nearly five years in June, surpassing market expectations as rising prices for artificial intelligence-related products boosted trade. Overseas shipments jumped 27% from a year earlier to $412.4 billion last month, the strongest growth since October 2021, while imports soared 36% to $286.8 billion, logging the fastest increase since June 2021, according to customs data. Both figures beat the upper ends of economists' forecasts in a recent Caixin survey. The robust performance was largely fueled by the global demand for semiconductors and technology products driven by the burgeoning artificial intelligence sector. This trend highlights the country's critical role in the global technology supply chain and its dependence on international buyers, particularly as its domestic economy faces sluggish conditions.