USEUROPEAFRICAASIA 中文双语Français
Home / Comment

Trade surplus skyrockets to hit monthly record

By Zhou Huiying and Mu Chen | China Daily | Updated: 2014-08-09 07:40

China's trade surplus surged to a monthly record high in July as export growth unexpectedly accelerated and imports fell, suggesting the recoveries in the United States and Europe will help sustain expansion in the world's second-largest economy.

Overseas shipments increased 14.5 percent from a year earlier, the Beijing-based customs administration said on Friday, beating all estimates in a Bloomberg News survey that had a median projection of 7 percent. Imports dropped 1.6 percent, leaving a trade surplus of $47.3 billion, bigger than all analyst estimates.

Sales to the biggest markets of the US and Europe surged, indicating strength in demand that will reduce pressure on Premier Li Keqiang to expand stimulus measures in the second half to bolster growth. The report contrasts with the International Monetary Fund's estimate last month of a slowdown in the US economy that accompanied a cut in its global growth outlook.

Trade surplus skyrockets to hit monthly record

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US