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China’s trade surplus surge 40% in August on tumbling imports

by ChemOrbis Editorial Team -
  • 08/09/2015 (11:36)
According to data from China’s Customs Administration, China’s exports and imports tumbled in August. Exports fell 6.1% in yuan-denominated terms from a year earlier while imports slumped 14.3% on the year in August. Accordingly, the country’s August trade surplus reached 368 billion yuan ($57.8 billion), up almost 40% from a month earlier.

In dollar terms, exports fell 5.5% from a year earlier in August while imports slid 13.8% compared with the same month of 2014. According to the latest data, China’s oil imports fell 13.4% to reach 26.59 million tons in August from July’s 30.71 million tons. The country’s daily oil imports represented the lowest level seen in the last three months with 6.29 million barrels of oil per day.
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