China headed for US$1 trillion trade surplus as exports soar

China’s exports soared again in June, rising by 27 per cent year on year to US$412.4 billion, as growing demand for semiconductors to fuel the artificial intelligence boom helped to offset pressures from higher energy prices caused by the Iran war. Imports also surged, climbing 36 per cent to US$286.8 billion for the month. Both figures were well ahead of economists’ forecasts, and the country’s trade surplus hit US$125.6 billion in June, up from US$105.4 billion a month earlier. China’s global.