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China's trade surplus narrows in July
Aug '12
The value of China’s foreign trade grew 2.7 percent year-on-year in July this year, according to the data from the General Administration of Customs.
The value of exports increased by only one percent year-on-year, while imports rose by 4.7 percent year-on-year, thus narrowing the country’s trade surplus.
In July, China’s overall foreign trade value touched US$ 328.73 billion, of which, exports fetched US$ 176.94 billion and imports were worth US$ 151.79 billion. It led to a trade surplus of US$ 25.15 billion, down 16.8 percent year-on-year.
From January to July, the value of China’s total imports and exports reached US$ 2.168 trillion, up 7.1 percent year-on-year. While exports earned US$ 1.131 trillion, growing at 7.8 percent year-on-year, imports were worth US$ 1.037 trillion, rising at 6.4 percent year-on-year. Thus, China achieved a trade surplus of US$ 94.1 billion during the seven-month period.
The China-EU bilateral trade showed a decline of 0.9 percent year-on-year during the January-July 2012 period, while China-US trade jumped by 10.5 percent y-o-y.
China’s bilateral trade with ASEAN countries, Russia and Brazil also increased during the period by 9 percent y-o-y, 17.7 percent and 10.3 percent, respectively.

Fibre2fashion News Desk - China

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