HONG KONG (AP) — China’s exports accelerated in June, jumping 27% from a year earlier, its customs agency said Tuesday, driven by strong demand due to the boom in artificial intelligence.
The increase in exports in June was much better than economists had expected. Exports rose 19.4% year-on-year in May.
Imports in June surged 36%, stronger than May’s 27.4% year-on-year growth.
China’s exports of vehicles, especially EVs, and other tech-related products have boomed as rapid expansion of use of AI increases demand for semiconductors and other electronic equipment.
The strength in export manufacturing has helped to offset weakness in domestic demand.
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