China: Trade surplus soars amid lower imports
July 10, 2012
In June, exports grew 11.3% over the same month last year, which was below the 15.3% rise observed in May but above market expectations that had shipments expanding 10.6%. Meanwhile, imports grew 6.3% in June, which was nearly half the 12.7% rise seen in the previous month and below the 11.0% increase expected by the market. As a result, the trade surplus reached USD 31.7 billion in June, the largest surplus recorded since January 2009. Accordingly, the print came in well above both the USD 22.2 billion surplus recorded in the same month last year and the USD 24.0 billion expected by market analysts.