BUSINESS China reports surplus in international goods trade in May

BUSINESS

China reports surplus in international goods trade in May

Xinhua

19:53, June 30, 2022

BEIJING, June 30 (Xinhua) -- China reported a surplus in its international goods trade in May, data from the State Administration of Foreign Exchange showed on Thursday.

Photo taken on Dec. 23, 2021 shows containers loaded at the Qianwan Container Terminal in Qingdao, east China's Shandong Province. (Photo by Yu Fangping/Xinhua)

Trade in goods exports came in at 1.8662 trillion yuan (278.06 billion U.S. dollars) in May, and imports at 1.464 trillion yuan, resulting in a surplus of 402.2 billion yuan.

Trade in services saw a deficit of 50.8 billion yuan, with the sector's exports and imports standing at 188 billion yuan and 238.8 billion yuan, respectively.

China's international goods and services trade combined increased 14 percent year on year to 3.757 trillion yuan in May, data showed.

In dollar terms, exports of China's international goods and services trade reached 306.3 billion U.S. dollars in May, while imports stood at 253.9 billion U.S. dollars, resulting in a surplus of 52.4 billion U.S. dollars.

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