China reported a 11.3 percent on-year increase in exports and a 17.2 percent on-year rise in imports in June in dollar terms, according to Reuters.

That left China with the a trade balance of $42.77 billion for the month, higher than a Reuters poll forecast of $42.44 billion.

Analysts polled by Reuters had expected exports to rise 8.7 percent while imports were predicted to rise 13.1 percent.

The data from China is closely watched by investors amid concerns about a slowdown in growth and a rise in debt levels in the world’s second largest economy.

China reported stronger-than-anticipated exports and imports for May.

Imports have been strong in recent months, driven largely by iron ore and other commodities used to feed a year-long construction boom, while exports have rebounded thanks to stronger global demand after several years of contraction.

“Looking ahead, we expect export growth to slow on uncertainties in external demand due to rising geopolitical risks and the stronger CNY/USD exchange rate in the first half of 2017,” wrote Nomura analysts in a note after the data release.

“Import growth is also likely to moderate along with export growth, in our view. The cooling property market (in terms of sales) is likely to lead to slower domestic investment growth, which may also weigh on import growth,” the bank’s analysts added.

China had a $25.4 billion trade surplus with the United States in June, up from $22.0 billion in May, customs data showed on Thursday.

The surplus with the U.S. was China’s highest since October 2015, when it was $25.5 billion.

This is breaking news. Check back for updates.

-Reuters contributed to this report.

By Huileng Tan


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