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Surplus fall could bring respite
By Wang Yanlin |
October 13, 2010, Wednesday
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Online Edition
Online Edition
China's trade surplus in September fell to a five-month low when exports and imports both rose to a record volume in the aftermath of the global financial crisis.
It may bring a respite for China from the mounting pressure of the appreciation of the yuan but analysts said the respite could just be a temporary one.
September's surplus settled at US$16.8 billion (112.19 billion yuan), the General Administration of Customs said today. It dropped 15.7 percent from the amount of US$20 billion in August and compared with US$28.7 billion in July when it hit the highest level since February 2009.
"Faster growth in imports contributed to the narrowing gap," said Xue Jun, an analyst at CITIC Securities Co. "Based on needs for domestic expansion, the increasing demand for overseas goods will extend into at least next year." Last month, exports in China rose 25.1 percent from a year earlier to US$144.9 billion, while imports were up 24.1 percent to US$128.1 billion. On a monthly basis, exports advanced 4.1 percent from the volume in August, much less than the import's jump of 7.4 percent.
The accumulated trade surplus through the third quarter fell 10.5 percent from a year earlier to US$120.6 billion. Despite this, analysts said it can't help to stall the process of the yuan's appreciation.
It may bring a respite for China from the mounting pressure of the appreciation of the yuan but analysts said the respite could just be a temporary one.
September's surplus settled at US$16.8 billion (112.19 billion yuan), the General Administration of Customs said today. It dropped 15.7 percent from the amount of US$20 billion in August and compared with US$28.7 billion in July when it hit the highest level since February 2009.
"Faster growth in imports contributed to the narrowing gap," said Xue Jun, an analyst at CITIC Securities Co. "Based on needs for domestic expansion, the increasing demand for overseas goods will extend into at least next year." Last month, exports in China rose 25.1 percent from a year earlier to US$144.9 billion, while imports were up 24.1 percent to US$128.1 billion. On a monthly basis, exports advanced 4.1 percent from the volume in August, much less than the import's jump of 7.4 percent.
The accumulated trade surplus through the third quarter fell 10.5 percent from a year earlier to US$120.6 billion. Despite this, analysts said it can't help to stall the process of the yuan's appreciation.
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