China Trade Surplus Slightly Above Estimates In June


China posted a USD 42.77 billion trade surplus in June of 2017, lower than a USD 45.16 billion surplus a year earlier but slightly higher than market expectations of a USD 42.44 billion surplus. Exports reached the highest value so far this year and imports rose the most in three months.

Year-on-year, exports grew by 11.3 percent to USD 196.6 billion, faster than an 8.7 percent rise in the prior month and beating estimates of an 8.7 percent growth. It was the fourth straight month of increase in outbound shipments, supported by firmer global demand.

Purchases jumped 17.2 percent to USD 153.8 billion, compared to a 14.8 percent increase in a month earlier and above consensus of a 13.1 percent rise.

The trade surplus with the US widened to USD 25.4 billion in June, up from USD 22 billion in May and the highest since October of 2015.

In yuan-denominated terms, exports increased by 17.3 percent from a year earlier in June, following a 15.5 percent rise in May. Inbound shipments surged 23.1 percent, after growing 22.1 percent in the prior month. In the first half of 2017, shipments rose 15 percent while imports surged 25.7 percent. 

In May 2017, the trade surplus was marginally revised to USD 40.79 billion. 

General Administration of Customs of China | Rida Husna | rida@tradingeconomics.com
7/13/2017 9:20:44 AM