Intermoney | The trade surplus rose to $114.7 billion. This was largely due to exports rebounding by 5.8% year-on-year, while imports picked up with a 1.1% year-on-year increase in June, after three months of negative growth. By country, the first thing to look at was the evolution of trade relations with the US, where we once again witnessed a rebound in the Chinese surplus, which rose to $26.5 billion. Shipments to the US regained some lost ground, with the year-on-year decline narrowing to 16% from 34% down in May and 21% down in April. The good news is that China is managing to increase its sales in other markets to offset the decline in sales in the US, with exports to ASEAN rising by 17% year-on-year. As for imports, those from the US fell by 15% in June compared to the previous year, following a 18% drop in May, and are expected to continue moderating in future readings as China seeks other trading partners.
China’s trade balance reaches surplus of $114.799 billion in June
