China Trade Surplus Widens Slightly in May

Both exports and imports hit record high values per item, sending the trade surplus to $18.7 billion from the $18.4 billion registered in April., General Administration of Customs 6/11/2012 10:34:52 AM

China exports rose by more than 15 percent in May versus the same period last year, the General Administration of Customs said on May 10th.

Exports beat market expectations, reportedly up by 15.3 percent to $181.1 billion last month compared with the 4.9 percent growth in April. Meanwhile, imports rose 12.7 percent year-over-year to $162.4 billion in May, better than the 0.3 percent increase in April’s import numbers.

As of May 31, China exports are up 8.7 percent to $774.4 billion and imports are up by 6.7 percent to $736.5 billion, according to government figures. The numbers attest to the size and strength of the Chinese economy, along with its continued importance as the world’s manufacturing hub. Despite the fact that China trade growth isn’t booming at teen-level growth rates, the economy is still maintaining robust performances even in a historically weak global economic environment like this one.

Trade with the U.S. is up 12 percent to $190 billion as of May 31 while trade with the European Union is stable, rising 1.3 percent even in dire times. China’s exports to the U.S. rose by 23 percent alone in May, the biggest increase this year.  China exports rose 14 percent in April compared to a decline of similar proportions to the E.U.

The eurozone remains a cause for concern even after its finance ministers agreed on Saturday to lend Spain a reported 100 billion euros ($125 billion) to keep its banking sector solvent.

China Trade Surplus Widens Slightly in May