June trade figures show improvement
July 14, 2014 Category Foreign trade, Weekly
China’s trade growth strengthened last month, reinforcing the belief that the economy is stabilizing under a mini stimulus. June exports grew 7.2% year-on-year to USD186.7 billion, accelerating from 7% in May, the General Administration of Customs said. Imports gained 5.5% to USD155.2 billion, reversing a dip of 1.6% a month earlier. “The data suggest that both external and domestic demand are on the way to recovery,” said Zhou Hao, Economist at Australia & New Zealand Banking Group. Zhu Haibin, Chief Economist for China at JPMorgan, said that although June’s exports grew less than expected, the outlook for the year remains positive. “Global demand will likely improve, and we expect exports to accelerate in the second half of the year,” he said. China’s trade figures have fluctuated a lot this year due to different monthly comparative bases and the government’s efforts last year to combat speculative capital. Overall, trade edged up 1.2% in the first six months, against a full-year target of 7.5%. China’s trade with the European Union in the first half gained 9.6%, with figures for the UK and Germany up 19.7% and 10.2% respectively. Trade increased 2.8% with the United States in the period and rose 1.3% with Japan. The trade surplus narrowed to USD31.6 billion from USD35.9 billion.
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