Chinese exports rise 7%, imports slip

China says its export growth accelerated in May but imports dipped in a mixed sign for the world's second-biggest economy.

Data released by the General Administration of Customs today showed exports rose 7% in dollar terms, up from a 0.9% increase in April and rather large slump in February and March.

Imports declined 1.6% in May after inching up 0.8% in April. Private sector analysts say the Chinese economy will likely slow down as the impact of mini-stimulus efforts fade.

Economic growth eased to 7.4% in the first quarter from the previous quarter's 7.5%.

Stronger global demand for Chinese goods could help offset domestic weakness, reducing concern about politically volatile job losses in export-driven manufacturing.

Communist leaders are trying to reduce reliance on trade and investment by encouraging domestic consumption. But their plans are based on a forecast of 7.5% growth in total trade, while exports have shrunk 0.4% for the first five months of the year and imports are up 0.8%.

Exports for the month of May came to USD 195.47 billion while imports totalled USD 159.55 billion, giving China a trade surplus of USD 35.9 billion.

The surplus with the United States was USD 21.2 billion while that with the 27-nation European Union was USD 9.3 billion.