China's exports jump 48.5 percent in May

June 10, 2010 at 12:14 AM
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BEIJING, June 10 (UPI) -- China Thursday announced its May exports soared 48.5 percent year-on-year despite the crisis in Europe, China's main market.

China's imports in May also jumped 48.3 percent, the General Administration of Customs announced, the state-run Xinhua news agency reported.

May exports totaled $131.76 billion, while imports totaled $112.23 billion, yielding a trade surplus of more than $19.5 billion for May.

Exports in the five months of this year ending in May totaled $567.74 billion, up 33.2 percent from the same period last year. Five-month imports totaled $532.35 billion, up 57.5 percent.

The trade surplus for the period totaled $35.39 billion, down 59.9 percent from the same period last year, the report said.

China is now the world's largest exporter, ahead of Germany, and the world's third-largest economy after the United States and Japan.

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