Signs of recovery in China's exports come

May data showed that foreign trade in China gave signs of recovery.

The country's dollar-based exports increased by 16.9 percent in May compared to the same period of the previous year. In April, an annual increase of 3.9 percent was recorded in exports due to the fact that the epidemic measures caused the stoppage of operations in production areas and ports. The expectation of the economists was that the increase in exports would be 8 percent.

On the other hand, dollar-based imports in China increased by 4.1 percent year on year, similar to the previous month. The expectation for this data was 2.8 percent.

While exports in the country reached the highest level in 4 months with 308.25 billion dollars in May, the foreign trade surplus increased from 51.12 billion dollars to 78.8 billion dollars.

Exports in South Korea showed a similar increase in May. But exporters are reporting a decline in orders as consumers around the world begin to shift their spending on services.

Societe Generale Economist Wei Yao also evaluated how the course of demand in the USA and Europe, which are struggling with high inflation, will be important in terms of export performance in the upcoming period.