China Trade Surplus Hits Record High
China trade surplus increased to USD 47.3 billion in July of 2014 from USD 31.6 billion in the previous month, beating market forecasts, as exports jumped while imports fell.
8/8/2014 9:46:21 AM
Exports accelerated 14.5 percent year-on-year to USD 212.9 billion. Shipments to US increased by 12.3 percent, to European Union by 17 percent, to Japan by 2.9 percent, to South Korea by 32.1 percent, to Taiwan by 48 percent and to Australia by 2.6 percent.
Imports declined 1.6 percent to USD165.6 billion after gaining 5.5 percent in the previous month.
China's trade surplus with the European Union, its biggest trading partner, surged by 37 percent yoy to $13.7 billion. While with the United States widened by 17 percent to $22.3 billion. In the same month last year, China recorded trade surplus USD17.8 billion.