Arab Today, arab today china\s august trade surplus tumbles to 178bn
Last Updated : GMT 04:51:18
Arab Today, arab today
Arab Today, arab today

China\'s August trade surplus tumbles to $17.8bn

Arab Today, arab today

Arab Today, arab today China\'s August trade surplus tumbles to $17.8bn

Beijing - AFP

China\'s trade surplus contracted sharply to $17.8 billion in August, down from $31.5 billion in July, as imports rose to a new record high, according to official data.The trade surplus is a perennial point of contention for China\'s key trade partners, the United States and Europe, who seek better market access to the world\'s second-biggest economy.China\'s August exports rose 24.5 percent year-on-year to $173.3 billion, the customs agency said in a statement.But imports jumped 30.2 percent to $155.5 billion in August, breaking the previously monthly record of $152.2 billion set in March.\"One month reduction in trade surplus does not equate to a sustained reduction in the trade surplus,\" Alistair Thornton, an analyst at IHS Global Insight, told AFP. \"The export growth shows that there is a huge amount of resilience and momentum still in the Chinese economy despite the fact that we\'ve undergone a sustained period of monetary tightening.\"The decline in the trade surplus exceeded forecasts made by a panel of 12 economists surveyed by Dow Jones Newswires, who had a median expectation of $23.4 billion for August.The economists had expected imports to increase by just 21 percent, and exports by 21.6 percent.Some analysts had expected poor consumer confidence in the United States and Europe to hit China\'s exports, but the latest figures show outgoing shipments above forecasts, indicating the Chinese economy is weathering the downturn.\"The weakness we\'ve seen in the past months in the eurozone and the US hasn\'t yet filtered into China\'s export growth,\" Thornton said.But he warned that \"the recent weakness in the advanced economies will start to show up in the export data towards the end of the year\".In the first eight months of the year, Chinese trade with the European Union was worth $372.1 billion, up 21.8 percent year on year, while in second place trade with the US rose 17.8 percent to $285.6 billion.Also from January to August, Chinese imports of iron ore increased by 10.6 percent in terms of quantity, but with the price per ton increasing by 37.4 percent.China\'s politically sensitive trade surplus had leapt to $31.5 billion in July from just $22.27 billion in June, adding further pressure on Beijing to allow the yuan to appreciate.Beijing\'s major trading partners have long complained that the yuan is deliberately undervalued to give Chinese exporters an unfair advantage.But, said Thornton, the latest contraction would be unlikely to assuage those who think the Chinese currency should be allowed to rise in value.\"This will not fundamentally alter US pressure on the Chinese to appreciate the RMB,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s august trade surplus tumbles to 178bn Arab Today, arab today china\s august trade surplus tumbles to 178bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china\s august trade surplus tumbles to 178bn Arab Today, arab today china\s august trade surplus tumbles to 178bn

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday