Home Page | Photos | Video | Forum | Most Popular | Special Reports | Biz China Weekly
Make Us Your Home Page
Most Searched: Diaoyu Islands  meat scandal  Mass line  Two sessions  CPPCC  

China's export beats forecast, surplus at new high

English.news.cn   2014-08-08 14:02:34

BEIJING, Aug. 8 (Xinhua) -- China's export volume was stronger than expected in July due to recovering external demand, with the monthly trade surplus hitting an all-time high, according to new customs data published on Friday.

Last month, exports surged 14.5 percent from the previous year reaching 212.9 billion U.S. dollars, while imports dropped 1.6 percent to 165.6 billion U.S. dollars, the General Administration of Customs (GAC) said in a statement.

The export growth rate more than doubled from the 7.2-percent rise seen in June. It's the fastest rate of growth in more than a year.

Trade surplus for July reached an all-time high of 47.3 billion U.S. dollars, soaring by around 170 percent from the previous year, up 50 percent from June, the data showed.

Monthly trade volume went up 6.9 percent year on year to 378.5 billion U.S. dollars in July.

HSBC's chief China economist Qu Hongbin attributed the strong export figures mainly to further recovery in external demands.

Imports dropped due to a high comparison base from a year earlier and declines in both import volumes and prices for commodities including copper, crude oil and refined oil products, Qu said.

In the first seven months, total trade volume edged up by 2 percent to 2.4 trillion U.S. dollars, with exports up 3 percent to 1.28 trillion U.S. dollars. Imports rose 1 percent to 1.12 trillion U.S. dollars.

Total trade surplus in the first seven months surged 20.9 percent from the same period last year, reaching 150.6 billion U.S. dollars, the GAC said.


News Analysis: China's exports to benefit from U.S. economic growth

NEW YORK, Aug. 8 (Xinhua) -- U.S. economists expect that the strong growth momentum of the U.S. economy in the second half of this year will provide a boost to China's exports.

China's export volume was stronger than expected in July, surging 14.5 percent from the previous year to 212.9 billion U.S. dollars, China's General Administration of Customs said in a statement Friday. The sharp rise in exports lifted China's trade surplus to a record 47.3 billion dollars last month. Full story

China remains largest exporter of major items to Vietnam in H1: Vietnam Customs

HANOI, July 21 (Xinhua) -- China remained the largest exporter of major items to Vietnam in the first half of 2014, including machinery, equipment, tools and accessories, fabrics, materials for garment, footwear and steel among others, said Vietnam Customs on Monday.

According to a recent report on the website of General Department of Vietnam Customs, China continued to be the largest supplier of machinery, equipment, tools and accessories for Vietnam during the first half of 2014, with total revenue of nearly 3.62 billion U.S. dollars, up 25.8 percent year-on-year. Full story

Editor: Xiang Bo
Related News
Home >> China            
Most Popular English Forum  
Top News  >>
Photos  >>
Video  >>
Top China News Latest News  
  Special Reports  >>