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08-09-2014, 12:53 PM
China hits record trade surplus of $US49.8 billion
FERGUS RYAN AND AFP BUSINESS SPECTATOR SEPTEMBER 08, 2014 12:56PM
China’s monthly trade surplus rose to $US49.8 billion ($53.88bn) in August, its highest amount on record, official data showed today.
Bloomberg analysts had forecast a median trade surplus of $US40bn for the month.
Exports increased 9.4 per cent year on year, the General Administration of Customs announced, while imports decreased 2.4 per cent.
The surplus bested the previous all-time high of $US47.3 billion recorded last month.
It also exceeded the median forecast of $US42 billion in a Wall Street Journal survey of 15 economists.
Export growth slowed from July’s gain of 14.5 per cent, but beat the median expectation of a gain of 9.2 per cent.
Imports, which had declined 1.6 per cent in July, worsened further in August and failed to match the median forecast of a 2.7 per cent increase.
FERGUS RYAN AND AFP BUSINESS SPECTATOR SEPTEMBER 08, 2014 12:56PM
China’s monthly trade surplus rose to $US49.8 billion ($53.88bn) in August, its highest amount on record, official data showed today.
Bloomberg analysts had forecast a median trade surplus of $US40bn for the month.
Exports increased 9.4 per cent year on year, the General Administration of Customs announced, while imports decreased 2.4 per cent.
The surplus bested the previous all-time high of $US47.3 billion recorded last month.
It also exceeded the median forecast of $US42 billion in a Wall Street Journal survey of 15 economists.
Export growth slowed from July’s gain of 14.5 per cent, but beat the median expectation of a gain of 9.2 per cent.
Imports, which had declined 1.6 per cent in July, worsened further in August and failed to match the median forecast of a 2.7 per cent increase.