China Trade Surplus Widens in June


China trade surplus increased to USD 46.54 billion in June of 2015 from USD 31.8 billion reported a year earlier but below market forecasts, as exports unexpectedly grew while imports declined at a slower pace.

In June, exports picked up 2.8 percent year-on-year to USD 192.01 billion, compared to a 2.5 percent drop in the previous month. Imports fell by 6.1 percent year-on-year to USD 145.48 billion as a result of declining commodity prices and following a 17.6 percent decline in May. In the previous month, the country registered a downwardly revised USD 58.86 billion trade surplus.

Considering the first six months of 2015, exports grew 1.0 percent, driven by rice (+35 percent); crude (+436.2 percent); mineral fertilizer (+68.9 percent); ceramic products (+34.2 percent); steel (+0.1 percent), unwrought aluminium & aluminium (31.6 percent); IC (+4.2 percent); lamps, lighting fixtures (+24.3 percent); ceramic products (34.3 percent) and furniture & parts (+11.0 percent). In contrast, sales declined for: coal and ignite (-38.3 percent); rare earths (-15.9 percent), refined oils (-31.6 percent) and LCD panel (-5.7 percent). Shipments increased to India (+10.8 percent), South Korea (+0.6 percent), Taiwan (+3.8 percent), the US (9.3 percent), South Africa (11.4 percent) and Australia (+5.3 percent) but were down to Japan (-10.5 percent), Hong Kong (-8.3 percent), Russia (-36.2 percent), Brazil (-8.0 percent).  

Imports shrank 15.5 percent as purchases from all of the country's trading partners declined except Vietnam. Those from the US decreased by 7.7 percent, India (-24.7 percent), Japan (-10.6 percent), Hong Kong (-18.9 percent), the ASEAN countries (-8.3 percent), South Korea (-7.1 percent), the EU countries (-12.9 percent), Russia (-23.9 percent), South Africa (-41.6 percent), Australia (-29.0 percent) and New Zealand (-39.2 percent). In contrast, imports from Vietnam rose by 22.2 percent.

China Trade Surplus Widens in June


General Administration of Customs l Rida Husna l rida@tradingeconomics.com
7/13/2015 8:55:06 AM