BEIJING - China posted a record trade surplus of about US$28.7 billion in August, according to calculations based on partial figures issued by the customs administration on Wednesday.
Economists had expected a US$23.5 billion surplus.
Customs said exports in August were US$134.87 billion, up 21.1 per cent from a year earlier. Imports were US$106.18 billion, up 23.1 per cent from a year earlier.
The surplus for the first eight months was US$151.99 billion.
China had a trade surplus of US$25.28 billion in July and US$25 billion in August 2007.
August's reading took the rolling 12-month trade surplus to about US$253.6 billion, compared with US$249.7 billion in July.
The European Union remained China's largest trading partner with two-way trade up 26.9 per cent in the first eight months.
Trade with the United States, China's No 2 trade partner, was up 13.3 per cent in the first eight months, customs said. -- REUTERS
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Thursday, September 11, 2008
China record surplus of about US 29 billion
Despite all the gloom and doom, China surplus swells to 29 billion. Export is still humming but many will be cautious.
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