ID :
187742
Fri, 06/10/2011 - 14:47
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Shortlink :
https://oananews.org//node/187742
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China's trade surplus widens in May
(LEAD)HONG KONG, June 10 (Yonhap) -- China's trade surplus rose in May as exports remained strong, the Chinese customs authorities said Friday.
According to the General Administration of Customs, the country's trade surplus stood at US$13.05 billion last month, compared with $11.43 million in the previous month.
Exports rose 19.4 percent from a year ago to $157.16 billion and imports jumped 28.4 percent to $144.11 billion.
The trade surplus, however, came as a surprise to the market, as many analysts predicted a larger exports growth and a smaller imports growth.
"The year-on-year numbers surprised the market in different directions," said Qu Hongbin, chief China economist at HSBC Ltd.
The economist attributed the slower exports to the recent downshift of the global manufacturing cycle and the disruption after Japan's earthquake in March.
However, he did not expect any sharp slowdown in exports will take place this year, since the global economy is still on track of recovery, though at a slower pace than anticipated.
"China's growth is just moderating towards a soft landing. Imports numbers will remain robust and likely continue to keep faster pace than exports growth," Qu said.
According to the General Administration of Customs, the country's trade surplus stood at US$13.05 billion last month, compared with $11.43 million in the previous month.
Exports rose 19.4 percent from a year ago to $157.16 billion and imports jumped 28.4 percent to $144.11 billion.
The trade surplus, however, came as a surprise to the market, as many analysts predicted a larger exports growth and a smaller imports growth.
"The year-on-year numbers surprised the market in different directions," said Qu Hongbin, chief China economist at HSBC Ltd.
The economist attributed the slower exports to the recent downshift of the global manufacturing cycle and the disruption after Japan's earthquake in March.
However, he did not expect any sharp slowdown in exports will take place this year, since the global economy is still on track of recovery, though at a slower pace than anticipated.
"China's growth is just moderating towards a soft landing. Imports numbers will remain robust and likely continue to keep faster pace than exports growth," Qu said.
