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Trade surplus widens to US$31.7b in June
By Wang Yanlin |
July 10, 2012, Tuesday
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CHINA'S trade surplus expanded sharply last month as exports outperformed imports, indicating insufficient domestic demand.
Exports in June increased 11.3 percent year on year to US$180.2 billion, the General Administration of Customs said this morning.
In comparison, imports rose 6.3 percent to US$148.5 billion. The trade surplus was US$31.7 billion in June, up 42.9 percent from a year earlier and compared with May's US$18.7 billion and April's 18.4 billion.
Both exports and imports grew at slower paces last month from May when exports jumped 15.3 percent and imports gained 12.7 percent. But June's data were still much better than in April when exports edged up 4.9 percent and imports reported a mere 0.3 percent rise.
"China's trade performance seems to be comparatively unstable at the moment," said Xue Jun, an analyst at CITIC Securities Co. "It reflects the uncertainties in the external market and the weakness of demand at home. More supportive measures are needed to prop up the domestic market."
Xue attributed the rising trade surplus to the slower growth of imports, rather than an over reliance on exports.
Xue added that trade performance in the first half was satisfactory on the whole, given the background of a slowing economy and the global economic downturn.
China's trade value advanced 8 percent on an annual basis to US$1.84 trillion in the first six months.
Ministry of Commerce spokesman Shen Danyang said earlier that China will achieve the annualized 10 percent trade growth target this year.
Exports in June increased 11.3 percent year on year to US$180.2 billion, the General Administration of Customs said this morning.
In comparison, imports rose 6.3 percent to US$148.5 billion. The trade surplus was US$31.7 billion in June, up 42.9 percent from a year earlier and compared with May's US$18.7 billion and April's 18.4 billion.
Both exports and imports grew at slower paces last month from May when exports jumped 15.3 percent and imports gained 12.7 percent. But June's data were still much better than in April when exports edged up 4.9 percent and imports reported a mere 0.3 percent rise.
"China's trade performance seems to be comparatively unstable at the moment," said Xue Jun, an analyst at CITIC Securities Co. "It reflects the uncertainties in the external market and the weakness of demand at home. More supportive measures are needed to prop up the domestic market."
Xue attributed the rising trade surplus to the slower growth of imports, rather than an over reliance on exports.
Xue added that trade performance in the first half was satisfactory on the whole, given the background of a slowing economy and the global economic downturn.
China's trade value advanced 8 percent on an annual basis to US$1.84 trillion in the first six months.
Ministry of Commerce spokesman Shen Danyang said earlier that China will achieve the annualized 10 percent trade growth target this year.
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