China export growth slows on health, supply snags

China's export growth slowed in May.

Overseas shipments were hit by a storm of different factors.

That includes a global shortage of semiconductors, higher raw material and freight costs, and logistics bottlenecks.

A stronger yuan currency also made exports more expensive.

Then there were health worries too.

Major shipping companies warned of congestion at one key port in Shenzhen after new virus cases were discovered among workers.

Factories in industrial hub Guangdong have reported disruption amid enhanced testing and restrictions on movement.

Overall that saw Chinese exports grow 27.9% on the year in May.

Analysts had forecast a rise of over 32%.

There was a very different set of numbers for imports, which surged by just over 51%.

That was the fastest increase in a decade.

The jump was driven by strong demand for raw materials.

But analysts said the numbers were inflated by surging prices for steel, iron ore, copper and other commodities.

That means the May figure reflects a leap in the value of imports, while volumes may even have edged down.