FX.co ★ China Imports Fall More than Expected

In May 2025, China's imports experienced a year-on-year decline of 3.4%, totaling USD 212.9 billion. This decrease was more pronounced than April's 0.2% reduction and was also greater than the market's expectation of a 0.9% fall. This marks the fourth consecutive month of contracting imports, underscoring both the muted domestic demand and the ongoing repercussions of U.S. tariffs, despite the existence of a 90-day trade truce. For the first five months of the year, imports fell by 4.9%, amounting to USD 1.01 trillion. During this period, there was a noticeable decrease in imports from the United States (-7.4%) and the European Union (-7.3%), while imports from ASEAN countries saw an increase of 1.2%.