China's trade surplus surges 44 percent
(AP)
Updated: 2006-06-12 14:31
China's trade surplus expanded to $13 billion (euro10.billion) in May,
slightly lower than economists had expected, but a 44 percent increase over a
year earlier and the largest monthly surplus so far this year.
China's exports last month totaled $73.11 billion, up 25.1 percent from a
year earlier, matching expectations, according to customs data released
Monday.
Imports for May totaled $60.11 billion, up 21.7 percent from a year
earlier.
The $13 billion trade surplus in May compared with a $9 billion surplus in
May 2005, and a $10.5 billion surplus in April.
In the January to May period, China's trade surplus was $46.8 billion, the
data showed.
China's trade surplus has been soaring in recent months after hitting a
historic high of US$102 billion last year, more than triple the US$32 billion
surplus in 2004.
The persistent surpluses have added to tensions over China's currency
controls, which its trading partners say keep the value of the yuan artificially
low, making the country's exports cheap in overseas markets.
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