China records a 44 per cent increase in June exports

July 10, 2010 11:17 am | Updated 11:17 am IST - Beijing:

China on Saturday reported a 43.9-per-cent increase year-on-year in June exports, signalling a continued demand for cheap goods despite ongoing economic difficulties in Europe and the US.

Shipped goods for the month totalled 137.4 billion dollars, the General Administration of Customs said on its website.

Total exports for January to June totalled 705.09 billion dollars, up 35.2 per cent from the same period in 2009.

The trade surplus was 20.02 billion dollars in June, compared to 19.53 billion dollars posted in May.

China had recorded its first trade deficit for six years in March.

Imports were up 34.1 per cent year-on-year in June, to 117.37 billion dollars, marking a slowdown from a 48.3-per-cent rise in May.

The new figures were released after China’s central bank pledged to loosen currency controls in mid-June.

The move was welcomed by trading partners who argued that the price of Chinese exports was being kept artificially low by the undervalued yuan.

But analysts said the impact on trade will be slow to manifest.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.