China's current account surplus widened to USD 119.6 billion in the second quarter of 2020 from USD 30.52 billion in the same period last year. That was the largest current account surplus since an all-time high of USD 133.1 billion in the last three months of 2008, as the economy recovers from the coronavirus shock. The goods surplus was USD 161.3 billion and the secondary income surplus stood at USD 0.9 billion, while the services deficit came in at USD 29.4 billion and the primary income gap was USD 13.3 billion. In the first half of the year, the current account surplus widened to USD 85.9 billion from USD 60.6 billion in the same period of 2019.
Current Account in China averaged 394.10 USD HML from 1998 until 2020, reaching an all time high of 1330.85 USD HML in the fourth quarter of 2008 and a record low of -403.15 USD HML in the first quarter of 2018. This page provides - China Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. China Current Account - values, historical data and charts - was last updated on September of 2020. source: State Administration of Foreign Exchange, China
Current Account in China is expected to be 950.00 USD HML by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in China to stand at 250.00 in 12 months time. In the long-term, the China Current Account is projected to trend around 340.00 USD HML in 2021 and 400.00 USD HML in 2022, according to our econometric models.