China: Trade balance improves in June
July 10, 2014
In June, exports increased 7.2% over the same month last year, which was a tad above the 7.0% increase recorded in May. The print undershot the 10.4% that market analysts had expected but represented the largest gain in five months.
Imports expanded 5.5% annually in June, which contrasted the 1.6% drop recorded in May. The increase fell short of the 6.0% expansion that market analysts had expected but represented the largest increase in four months.
The trade balance recorded a surplus of USD 31.6 billion in June (May: USD 35.9 billion surplus), which was above the USD 27.1 billion surplus recorded in the same month last year. The print undershot market expectations of a USD 36.9 billion surplus. The 12-month moving sum of the trade surplus rose from USD 250 billion in May to USD 255 billion in June.