Trade surplus rebounds slightly in Aug

Updated: 2007-09-11 19:56

China's trade surplus in August rose nearly 33 percent year-on-year to US$24.98 billion, the General Administration of Customs said on Tuesday.

The figure was slightly higher than the US$24.36 in July but short of the record US$26.91 billion in June.

In August, exports reached an all-time high of US$111.4 billion, up 22.7 percent year-on-year yet down 11.5 percentage points over July. Imports grew 20 percent to US$86.4 billion, also a record high.

However, the administration said in its monthly report, "The slowdown in export growth and a steady increase in imports indicated China's efforts to improve foreign trade have begun to pay off."

Since June, the country has taken steps to lower the surplus, including imposing export tariffs, removing or cutting tax rebates on exports and expanding the category of processed trade products listed as "discouraged".

China's trade volume totaled US$1.37 trillion for the first eight months of 2007, up 24 percent on last year, according to the report.

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