China Trade Surplus Widens in August


China trade surplus increased to USD60.24 billion in August of 2015 from USD49.83 billion reported a year earlier and beating market consensus. It is the largest surplus since February this year, as imports fell more than exports.

In August, exports dropped less than expected 5.5 percent year-on-year to USD196.89 billion, compared to  a 8.3 percent fall in the previous month. Imports slumped 13.8 percent year-on-year to USD136.65 billion, as a result of declining commodity prices and following a 8.1 percent drop in July. In the previous month, the country registered a USD43.03 billion trade surplus. 

Considering the first eight months of 2015, exports  dropped by 1.4 percent, driven by coal & ignite (-32.6 percent); coke & semi coke (-4.6 percent); refined oil (-30.6 percent); clothing accessories (-6.4 percent); footwear (-3.2 percent); precious metals (-59.9 percent); steel (-4.1 percent); automatic data processing equipments and parts (-14.5 percent); LCD panel (-5.6 percent) and furniture & parts (-4.1 percent). In contrast, outbond shipments increased for: rice (+7.5 percent); crude (+376.3 percent); mineral fertilizer (+46.8 percent); plastic products (+2.0 percent); ceramic products (+21.5 percent); unwrought aliminium and aluminium (+19.7 percent); handheld wireless (+14.9 percent); IC (+2.8 percent) and lamps, lighting fixtures and parts (+16.2 percent).

Sales increased to India (+7.6 percent), the ASEAN countries (+6.8 percent), the US (+6.1 percent), South Africa (+7.0 percent), Australia (+3.1 percent) and New Zealand (+9.7 percent). In contrast, exports  were down to Hong Kong (-9.2 percent), Japan (-10.4 percent), South Korea (-7.2 percent), Taiwan (-1.0 percent), the EU countries (-4.7 percent), Russia (-36.3 percent) and Brazil (-12.4 percent).  

Imports slumped 14.5 percent as purchases from all of the country's trading partners declined except Vietnam. Those from the US decreased by 7.3 percent, India (-23.0 percent), Japan (-11.5 percent), Hong Kong (-9.4 percent), the ASEAN countries (-6.7 percent), South Korea (-7.2 percent), the EU countries (-13.5 percent), Russia (-21.2 percent), South Africa (-36.3 percent), Australia (-26.3 percent) and New Zealand (-37.2 percent). In contrast, imports from Vietnam rose by 22.4 percent.

China Trade Surplus Widens in August


General Administration of Customs l Rida | rida@tradingeconomics.com
9/8/2015 5:26:41 AM