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June 10, 2011    

China’s trade surplus rises in May on soaring imports

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by Kay Murchie

The Customs Agency has today reported slower growth in China’s exports, rising by 19.4% in May on an annual basis but much slower than the 29.9% rate in April.

The rate was also less than the market forecast of a 21% increase.

Meanwhile, imports surged by 28.4% on an annual basis – beating expectations of a 22.5% rise.

As a result, China posted a trade surplus of $13.1 billion (£8 billion) – far less than the $18.6 billion expected by analysts.

The figures are closely monitored because China is the world’s largest exporter and is now the world’s second largest economy, after the US.

The figures come a day after Destatis revealed German exports and imports fell in April, giving a trade surplus of €10.9 billion.

According to Destatis, exports fell by 5.5% on a monthly basis to €84.3 billion (£75.6 billion) – much more than analysts had expected and the sharpest decline since January 2009.

Germany is the world’s second largest exporter after China and export demand helped to bring Germany out of recession in the second quarter of 2009 – much sooner than many of its counterparts throughout the world.

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