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China's monthly trade surplus down 10 pct |
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13:02, August 10, 2007 |
China''s monthly trade surplus in July dropped 2.55 billion U.S. dollars, or 10.4 percent, from June to 24.35 billion U.S. dollars, the General Administration of Customs said on Friday.
The figure was the second highest monthly level on record.
The country''s trade surplus totaled 136.81 billion dollars in the first seven months, the administration said.
July''s imports and exports both hit monthly records: imports rose 26.9 percent on July last year to 83.39 billion dollars while exports were up 34.2 percent to 107.74 billion dollars.
Imports rose 7.03 billion dollars from June while exports were up 4.47 billion dollars.
China''s foreign trade for the first seven months totaled 1.17 trillion U.S. dollars, up 24.4 percent from the same period last year.
A report published on Wednesday by the People''s Bank of China predicted that the country''s trade surplus would remain high while the growth is expected to slow.
It predicted that global demand will remain strong as the world economy may grow by four percent year on year. Meanwhile, accelerating investment in China will result in increased export capacity.
Customs data shows China''s processing trade in the first seven months rose 18.5 percent over the same period last year to 523.8 billion dollars, accounting for nearly half of the country''s imports and exports.
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