China Trade Surplus Hits New Record High in August



China trade surplus widened to USD 49.83 billion in August of 2014 from USD 28.5 billion a year earlier, beating market forecasts. The surplus hit a record high for the second straight month in August, as exports grew robustly while imports fell.

Exports rose 9.4 percent year-on-year to USD 208.5 billion in August, lower than a 14.5 percent increase in July, but better than market expectations. Sales to the United States rose 11.4 percent, those to the European Union increased 12.1 percent and shipments to the ASEAN countries advanced 13 percent. In contrast, sales to Japan fell1.7 percent and exports to South Korea decreased 12.6 percent.

Imports dropped 2.4 percent year-on-year to USD 158.6 billion in August after falling 1.5 percent in the previous month. Purchases from the United States, Japan, South Korea fell by 3.1 percent; 5.3 percent; 4 percent, respectively. Meanwhile, imports from the EU rose 4.5 percent.

China Trade Surplus Hits New Record High in August


rida@tradingeconomics.com
9/8/2014 10:43:05 AM