China Trade Surplus Narrows in July
China's trade surplus decreased to $US18.8 billion in July, as imports rose more than exports. according to data from the General Administration of Customs.
Exports rose 5.1 percent year on year to $186.0 billion, rebounding from a 3.1 percent drop in June. Shipments of electronics rose 11.3 percent yoy, while apparel exports rose 13.9 percent.
Imports increased 10.9 percent year on year to $168.2 billion, up from a 0.7 percent fall in June. Imports of crude oil rose 20 percent, iron-ore 27 percent and coal 18 percent.
In July, two-way trade with the EU, China's largest trade partner, rose 5 percent, while that with the United States, China's second-largest trade partner, rose 10 percent. Trade with ASEAN increased 13.1 percent. Trade with Japan shrank 6.1 percent.
8/8/2013 9:03:42 AM