Update | China’s trade figures beat forecasts, but imports dip again amid slowing economy

China’s exports picked up unexpectedly in June but imports tumbled again, reinforcing expectations that the government may further loosen policy to lift the Chinese economy after a recent stock market rout.

However, imports slid much less than analysts had forecast, leading some to see a silver lining in the latest data.

China’s June exports exceeded analyst expectations, rising 2.8 per cent from a year earlier, while imports fell by 6.1 per cent.

That left the country with a trade surplus of US$46.54 billion for the month, the General Administration of Customs said on Monday.

Analysts had expected exports to fall by 0.2 per cent and predicted imports would fall by 15 per cent.

China Customs said that the crisis in Greece was having “a certain effect” on trade, but also blamed weak external demand in general, rising labour costs and a stronger yuan for the weakness in exports.

It said enduring industrial overcapacity continued to dampen import demand.