China’s trade surplus surged in May, official data showed on Sunday, as exports rose while imports showed a surprise fall.
Exports increased 7 percent to $195.47 billion year-on-year, the General Administration of Customs announced, while imports declined 1.6 percent to $159.55 billion, resulting in a surplus of $35.92 billion — a 74.9 percent jump from the year before.
The result surpassed the median forecast of a surplus of $23.4 billion in a survey of 15 economists by Dow Jones.
Exports, which accelerated from April’s gain of 0.9 percent, were in line with the median prediction of a 7.2 percent rise, while imports missed their forecast of a 6.0 percent increase.
The latest trade data came as worries over China’s growth outlook have increased this year after a series of generally weaker-than-expected statistics, though trade data distortions have partially clouded the situation.
China’s gross domestic product (GDP) grew 7.4 percent in the first three months of 2014, weaker than the 7.7 percent in October-December last year and the worst since a similar 7.4 percent expansion in the third quarter of 2012.
Source AFP
