China's Trade Surplus Widens in August
China's trade surplus rose 8.4 percent in August from the same month last year boosted by improving exports.
Exports jumped 7.2 percent year on year to $190.6 billion. While shipments to the European Union fell 2 percent, exports to the U.S. rose 6 percent, to Hong Kong 6 percent and to Brazil 14 percent. Exports of electromechanical products increased 6.7 percent, accounting for 55 percent of total exports. Among them, the electrical and electronics exports were up 13.9 percent; machinery and equipment 7.6 percent. Apparel shipments were up 12.7 percent; textile 16.8 percent, toys 13.6 percent.
Imports rose a weaker-than-expected 7.0 percent to $162.1 billion in August. Imports of iron ore increased 10.6 percent, crude oil 16.5 percent and soybean 44.1 percent.
9/8/2013 11:41:01 AM