China’s customs agency announced Tuesday that the country’s exports jumped 27% in June compared to the same month a year ago, a figure that far outpaced what economic analysts had anticipated.
The previous month had already shown strong performance, with exports climbing 19.4% year-over-year in May — but June’s numbers blew past those results by a wide margin.
Import activity also picked up considerably, rising 36% in June. That figure topped May’s already-strong year-over-year import growth of 27.4%.
Much of the export surge is being credited to the rapid expansion of artificial intelligence technology, which is creating strong global demand for semiconductors and other electronic components. Chinese shipments of vehicles — particularly electric vehicles — along with a range of tech-related goods have seen significant growth as a result.
Analysts note that the robust performance in export manufacturing has helped make up for softer consumer spending within China itself, where domestic demand has remained relatively weak.
