China Trade Surplus Surges 44% in May

$161billion
China's current account surplus in 2005. 
$201 billion 
US trade deficit with China in 2005.

 

China reported a record monthly trade surplus of $13 billion in May. It brought the total surplus for the first five months of 2006 to $46.8 billion, up over 50% from $30 billion for the same period in 2004. Exports reached $73.1 billion in May and imports increased to $60.1 billion.

Last week US reported total April exports of $115.7 billion and imports of $179.1 billion, resulting in a goods and services deficit of $63.4 billion. US trade deficit with China increased to $17 billion in April.

Strong exports helped drive China's 10.3% GDP growth in the first quarter.

 

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