China Reports Surprising Trade Surplus Jump

From Marketwatch:

China’s trade surplus with the rest of the world grew more than expected in June, according to numbers released Saturday.

The Chinese government said its trade surplus was $20.02 billion in June, higher the expected amount of $14.6 billion. The surplus was larger than May’s $19.5 billion, which itself was the result of high growth in exports.

Dow Jones reported that China’s total exports grew 43.9% in June compared to the year-ago period, a drop from May’s year-on-year growth of 48.5%. Imports rose 34.1%, less than May’s 48.3% rise. Economists had expected exports to rise 40% and imports to rise 38%.

A report by Dow Jones Newswires following the trade surplus data speculated that figures will prompt more international pressure on China to further loosen its currency control.

July 10, 2010 7:50 PM
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