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China's July trade surplus almost triples to $59.2b

Published on Aug 8, 2014 11:38 AM
 
China's monthly trade surplus leaped to US$47.3 billion (S$59.2 billion) in July, nearly tripling year-on-year, official data showed on Friday, as exports jumped while imports surprisingly declined. -- PHOTO: AFP

BEIJING (AFP) - China's monthly trade surplus leaped to US$47.3 billion (S$59.2 billion) in July, nearly tripling year-on-year, official data showed on Friday, as exports jumped while imports surprisingly declined.

Exports increased 14.5 per cent year-on-year to US$212.9 billion, the General Administration of Customs announced, while imports decreased 1.6 per cent to US$165.6 billion.

The surplus far exceeded the median forecast of US$27.7 billion in a Wall Street Journal survey of 15 economists.

Export growth accelerated from June's gain of 7.2 percent and beat expectations of 8.0 per cent.

 
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