China Exports YoY

Exports from China rose by 4.8% year-on-year to USD 316.1 billion in May 2025, slightly below market expectations of a 5.0% increase and easing from an 8.1% rise in April. This marked the smallest export growth in three months, as shipments to the US were dampened by Trump-era tariffs and ongoing uncertainty surrounding trade negotiations between Washington and Beijing, with exports to the US plunging 34.5%—the steepest fall in more than five years. Meanwhile, exports increased to Japan (6.2%), Taiwan (7.5%), Australia (12.6%), the EU (12.0%), and ASEAN countries (14.8%), while declining to South Korea (-1.2%). Rare-earth exports surged 23% month-on-month to their highest level in a year. Top trade negotiators from the US and China are set to hold fresh talks in London on Monday, raising hopes of easing tensions over Chinese dominance in rare-earth minerals. For the first five months of 2025, exports grew by 6.1% compared to the same period in 2024, reaching USD 1.48 trillion.