China Trade Surplus Hits Record $14.5 Billion in June

$61.5 billion
China's Trade Surplus for the first half of 2006, a 55% increase over same period in 2005.

China's global trade surplus rose to a record monthly high of $14.5 billion in June, the Commerce Ministry reported. The previous record monthly trade surplus was $13 billion in May 2006.

Exports increased by 23% from a year earlier to $81.3 billion while imports climbed 19% to $66.8 billion.

China's trade surplus hit a historic high of $102 billion last year, more than triple the $32 billion surplus in 2004.  China's trade surplus with the United States hit a record $202 billion in 2005.

June's increase raised the trade surplus for the first half of the year to $61.5 billion, a 55% jump over last year's first-half surplus of $39.7 billion.

The economy grew at an annual rate of 10.3% in the first quarter of the year. First-half GDP growth number to be released soon, would likely would remain at about 10%.

 

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