China's May trade surplus surged to $45b: Govt
Published on Jun 8, 2014 12:28 PM
BEIJING (AFP) - China's trade surplus surged in May, official data showed on Sunday, as export growth accelerated sharply while imports showed a surprise fall.
Exports increased 7 percent to US$195.47 billion (S$244.7 billion) year-on-year, the General Administration of Customs announced, while imports declined 1.6 percent to US$159.55 billion, resulting in a surplus of US$35.92 billion (S$45 billion) - a 74.9 percent jump from the same month last year.
The result, China's third straight monthly surplus, surpassed the median forecast of a surplus of US$23.4 billion in a survey of 15 economists by Dow Jones.
Exports, which sharply outpaced April's 0.9 percent gain, were in line with the median prediction of a 7.2 percent rise, while imports missed their forecast of a 6.0 percent increase.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here