Current Account Surplus Falls 8%
Source: Xinhua |
August 20, 2010, Friday
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Print Edition
Print Edition
CHINA'S current account surplus fell 8 percent year on year to US$124.2 billion in the first half, the State Administration of Foreign Exchange said yesterday.
The current account surplus accounted for 4.9 percent of gross domestic product in the first half, down 1.3 percentage points from a year ago.
The decline in the current account in China's first half was mainly due to a weak first quarter. China's first-quarter current account surplus fell 32 percent from the same period last year to US$53.6 billion, according to the foreign exchange regulator's revised data in July. The country's current account surplus rose 30 percent from a year earlier to US$70.5 billion in the second quarter.
With a financial and capital account surplus of US$11.5 billion in the second quarter, China's financial and capital account surplus reached US$53.9 billion for the first half of 2010, the regulator said.
The current account surplus accounted for 4.9 percent of gross domestic product in the first half, down 1.3 percentage points from a year ago.
The decline in the current account in China's first half was mainly due to a weak first quarter. China's first-quarter current account surplus fell 32 percent from the same period last year to US$53.6 billion, according to the foreign exchange regulator's revised data in July. The country's current account surplus rose 30 percent from a year earlier to US$70.5 billion in the second quarter.
With a financial and capital account surplus of US$11.5 billion in the second quarter, China's financial and capital account surplus reached US$53.9 billion for the first half of 2010, the regulator said.
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