Business / Macro

China's service trade deficit narrows in Feb

(Xinhua) Updated: 2014-03-25 09:28

BEIJING - China's foreign trade in services saw a deficit of 58.5 billion yuan ($9.6 billion) in February, official data showed on Monday.

The figure was down from a deficit of 81.4 billion yuan in January, the State Administration of Foreign Exchange (SAFE) said in a statement.

China's income from trade in services stood at 94 billion yuan last month, while expenditure in service trade reached 152.5 billion yuan, according to the statement.

The SAFE started to issue monthly data on trade in services in January to improve the transparency of balance of payments statistics.

Although China overtook the United States to become the world's largest goods trader for the first time in 2013 and boasted a hefty surplus in trade of goods, a large deficit can be seen in its service trade.

Data from the Ministry of Commerce showed that service trade deficit reached $118.46 billion last year, up from $89.7 billion in 2012 and $54.92 billion in 2011.

China's service trade deficit narrows in Feb

China's service trade deficit narrows in Feb

 Service sector shines in February, while manufacturing moseys along Services trade growth outpaces that of goods  

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