China’s exports gain momentum in June with accelerated shipments and a truce with the U.S

China’s exports rose 5.8% in June compared to the same month in 2024, surpassing analysts’ expectations of 4% growth. The figures also represent an acceleration from the 4.8% gain recorded in May, according to data released by China’s General Administration of Customs on Monday (July 14).

The growth occurred during a period of easing trade tensions with the United States, which encouraged early shipments by Chinese exporters.

Imports also rebounded, rising 1.1% in June and reversing the 3.4% drop recorded in May, while the market had expected a 0.5% decline.

As a result, China’s trade surplus grew to US$ 114.78 billion in June, above the US$ 103.22 billion recorded in May and the projected US$ 111.3 billion.

China’s imports hit record
In the first half of the year, Brazil purchased US$ 35.7 billion in products from China, equivalent to 26.3% of all Brazilian imports, reaching a record high. The figure represents a 22.2% year-over-year increase.

Despite increased tariffs on imported electric vehicles, Chinese cars remain the top source of Brazilian automotive imports. From January to June, Brazil imported US$ 2.05 billion in vehicles from China, a 713% increase compared to the same period in 2023.

Argentina, once Brazil’s main automotive supplier, exported US$ 844 million in the same period, falling behind in the rankings.

China also expanded its presence in Brazil’s small appliance and electronics market. Imports of air conditioners jumped 67% in the semester, totaling US$ 498.5 million. Between 2022 and 2025, Brazil climbed from 15th to 7th place among China’s top buyers of these products.

In the TV segment, Brazil moved from 17th to 6th place as a key export destination for China. The same trend is seen in product categories such as stoves, electric irons, and other home appliances.

Import volume rises more than import value
According to the Foreign Trade Indicator (Icomex/FGV), the volume of imports from China between January and May rose 35% year-over-year, outpacing Brazil’s overall import volume growth of 12.4%.

The total value of imports of Chinese goods increased 25.7% in the 12 months through May, according to the Secretariat of Foreign Trade (Secex/Mdic), reflecting a decline in average import prices—a trend also seen in the broader Brazilian import basket.

Iron ore rises on China trade data
Iron ore futures rose after the release of the trade data. On the Dalian Commodity Exchange, the September contract climbed 0.26% to 766.5 yuan (US$ 106.92) per tonne. On the Singapore Exchange, the benchmark August contract rose 0.37% to US$ 99.65 per tonne.

According to analysts at Everbright Futures, the export performance and growth in Chinese imports reinforce expectations of higher steel demand and, consequently, greater demand for iron ore.
Chinese iron ore imports rose 8% in June compared to May, as mining companies increased shipments to meet quarterly targets following delays caused by weather events in the first quarter.

Source: Monitor do Mercado

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