China's export beats forecast, surplus at new high
Updated: 2014-08-08 15:00
(Xinhua)
|
|||||||||||
BEIJING - China's export volume was stronger than expected in July due to recovering external demand, with the monthly trade surplus hitting an all-time high, according to new customs data published on Friday.
Last month, exports surged 14.5 percent from the previous year reaching $212.9 billion, while imports dropped 1.6 percent to $165.6 billion, the General Administration of Customs (GAC) said in a statement.
The export growth rate more than doubled from the 7.2-percent rise seen in June. It's the fastest rate of growth in more than a year.
|
Export growth picks up in June |
|
Export uptick a 'warming' trend |
Monthly trade volume went up 6.9 percent year on year to $378.5 billion in July.
HSBC's chief China economist Qu Hongbin attributed the strong export figures mainly to further recovery in exte rnal demands.
Imports dropped due to a high comparison base from a year earlier and declines in both import volumes and prices for commodities including copper, crude oil and refined oil products, Qu said.
In the first seven months, total trade volume edged up by 2 percent to $2.4 trillion, with exports up 3 percent to $1.28 trillion. Imports rose 1 percent to $1.12 trillion.
Total trade surplus in the first seven months surged 20.9 percent from the same period last year, reaching $150.6 billion, the GAC said.
Related Stories
Export growth picks up in June 2014-07-11 07:00
China's exports to continue rebound: official 2014-06-17 15:41
Export uptick a 'warming' trend 2014-05-09 07:22
WTO rare earth ruling is unfair 2014-03-31 17:10
Record New Zealand-China trade ahead of target 2014-06-27 11:20
Today's Top News
Russia bans West food, Brazil benefits
Russia to ban food imports from EU, US
Obama authorizes airstrikes in Iraq
Snowden extends Russian stay
Scale of Ebola crisis unprecedented
Putin bans agricultural imports from West
UK names 'China hand' as new envoy
China film looks to global audience
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Horrific nightmare at Kunshan factory |
Shaolin: Fists of fame |
Reading into an online age |
China helps fight international war on drugs |
Crackdown on terrorist attacks |
My China Story: Meeting the master |