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China`s May trade surplus up to $35.92 billion: Govt

AFP | Last Updated: Sunday, June 8, 2014 - 09:24

China`s trade surplus surged in May, official data showed Sunday, as exports rose while imports showed a surprise fall.

Exports increased 7 percent to USD 195.47 billion year-on-year, the General Administration of Customs announced, while imports declined 1.6 percent to USD 159.55 billion, resulting in a surplus of USD 35.92 billion -- a 74.9 percent jump from the year before.

The result surpassed the median forecast of a surplus of USD 23.4 billion in a survey of 15 economists by Dow Jones.

Exports, which accelerated from April`s gain of 0.9 percent, were in line with the median prediction of a 7.2 percent rise, while imports missed their forecast of a 6.0 percent increase.

The latest trade data came as worries over China`s growth outlook have increased this year after a series of generally weaker-than-expected statistics, though trade data distortions have partially clouded the situation.

China`s gross domestic product (GDP) grew 7.4 percent in the first three months of 2014, weaker than the 7.7 percent in October-December last year and the worst since a similar 7.4 percent expansion in the third quarter of 2012.

First Published: Sunday, June 8, 2014 - 09:24
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