中国外贸前5个月出口增7.2%，对东盟、欧盟出口保持增长

Core Viewpoint - China's total goods trade value reached 17.94 trillion yuan in the first five months of the year, showing a year-on-year growth of 2.5%, with exports increasing by 7.2% and imports decreasing by 3.8% [1][4]. Trade Performance - The trade growth rate in the first five months was 0.1 percentage points higher than in the first four months [2]. - In May alone, the total goods trade value was 3.81 trillion yuan, reflecting a growth of 2.7%, with exports up by 6.3% and imports down by 2.1% [5]. - The export growth rate in May decreased by 3 percentage points compared to April [5]. Trade Partners - ASEAN remained China's largest trading partner, with a trade value of 3.02 trillion yuan, growing by 9.1%, accounting for 16.8% of total foreign trade [6]. - The EU was the second-largest trading partner, with a trade value of 2.3 trillion yuan, increasing by 2.9%, making up 12.8% of total foreign trade [6]. - Trade with the US, however, saw a decline, with a total trade value of 1.72 trillion yuan, down by 8.1%, and exports to the US decreasing by 8.7% [6]. Market Outlook - The foreign trade market is expected to face significant uncertainties moving forward, particularly after the 90-day window for US-China negotiations [8][9]. - Despite the pause in the trade war, foreign trade enterprises continue to seek opportunities in overseas markets, particularly in "Belt and Road" countries and Europe [11]. - There are expectations for continued positive growth in exports for June, although challenges remain due to high US tariffs and a slowing external demand [10][11]. Policy Implications - The government is likely to maintain supportive policies for stabilizing growth and foreign trade, with potential increases in fiscal measures to promote consumption and investment [12].