(Yicai) June 9 -- China’s imports and exports expanded 2.5 percent from January to May from a year earlier, demonstrating strong resilience in the face of a tough international environment, according to the latest data.

The total value of foreign trade reached CNY17.9 trillion (USD2.4 trillion) in the five months ended May 31, according to data released today by the General Administration of Customs. Exports surged 7.2 percent to CNY10.6 trillion (USD1.49 trillion) while imports tumbled 3.8 percent to CNY7.2 trillion (USD1 trillion).

In US dollar terms, China’s foreign trade climbed 1.3 percent over the period to USD2.49 trillion. Exports jumped 6 percent to USD1.49 trillion, while imports slumped 4 percent to USD1 trillion. China’s trade surplus in May was USD103.2 billion, beating the forecast of USD97.1 billion by a Yicai survey of 14 economists.

China’s economy continued its recovery this year and foreign trade has shown strong resilience under external pressures, said Lv Daliang, director general of the Department of Statistics and Analysis at GAC. In May, trade growth accelerated notably, especially after high-level China-US economic talks, even though the month had two fewer working days than last year. Despite that, foreign trade advanced 2.7 percent and exports jumped 6.3 percent.

The Association of Southeast Asian Nations remained China’s largest trading partner, with trade volume jumping 9.1 percent from a year earlier to CNY3 trillion (USD420 billion). The European Union ranked second with trade climbing 2.9 percent to CNY2.3 trillion, while the United States came in third with trade slumping 8.1 percent to CNY1.7 trillion (USD239 billion). Meanwhile, trade with African nations surged 12.4 percent to CNY963.2 billion (USD134 billion), hitting a record high for the period.

Private businesses continued to drive trade in the first five months, accounting for 57.1 percent of total trade. Their trade volume jumped 7 percent to CNY10.2 trillion (USD1.4 trillion). Trade by foreign-invested companies climbed 2.3 percent to CNY5.2 trillion.

China’s exports of mechanical and electrical products rose 9.3 percent to CNY6.4 trillion (USD891.2 billion), making up 60 percent of total exports. Of this, auto exports climbed 6.6 percent to CNY351.3 billion (USD49 billion). On the other hand, exports of labor-intensive products dipped 1.5 percent to CNY1.6 trillion (USD231 billion).

The prices of major commodity imports such as iron ore, crude oil and coal dropped, while the import value of mechanical and electrical products increased.

China’s foreign trade has maintained growth despite external pressures, demonstrating the strength of its industrial foundation, the flexibility of its foreign trade sector and the effectiveness of policies stabilizing trade, Fu Linghui, spokesperson for the National Bureau of Statistics, said previously.

Editor: Kim Taylor