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Market Update: China Trade Surplus Largest in 6 Months
China’s trade surplus was at USD 56.58 billion in July 2021, far above market consensus of USD 51.54 billion and compared with a surplus of USD 60.5 billion in the same month a year earlier. It was the largest trade surplus since January, amid further recovery in global demand and high commodity prices. Exports grew 19.3 percent from a year earlier to USD 282.66 billion while imports rose 28.1 percent to 226.08 billion. Considering the first seven months of the year, the trade surplus widened sharply to USD 306.12 billion, from USD 285.27 billion in the same period of 2020, as exports surged 35.2 percent year-on-year to USD 1.80 trillion, while imports jumped 34.9 percent to USD 1.50 trillion. source: General Administration of Customs [/s2If]
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