China ’s trade surplus surged almost 50 percent year on year to 19.53 billion USD in May, reported the National Bureau of Statistics (NBS).
This was much higher than the 1.68 billion USD posted in April, which indicates the rapid recovery of the world’s third largest economy after the global economic crisis.
In May, China earnt 131.7 billion USD from exports, up 48.5 percent from last year but spent only 112.2 billion USD on imports, an annual increase of 48.3 percent.
NBS reported that China’s industrial output rose by 16.5 percent in May, 1.3 percentage points lower than in April, while its consumer price index (CPI) climbed 3.1 percent compared to last year.
Economic analysts said that the sharp rise in the trade surplus shows that the Chinese economy has escaped the worst of the European debt crisis. However, the crisis puts even more pressure on China to revalue its currency./.
This was much higher than the 1.68 billion USD posted in April, which indicates the rapid recovery of the world’s third largest economy after the global economic crisis.
In May, China earnt 131.7 billion USD from exports, up 48.5 percent from last year but spent only 112.2 billion USD on imports, an annual increase of 48.3 percent.
NBS reported that China’s industrial output rose by 16.5 percent in May, 1.3 percentage points lower than in April, while its consumer price index (CPI) climbed 3.1 percent compared to last year.
Economic analysts said that the sharp rise in the trade surplus shows that the Chinese economy has escaped the worst of the European debt crisis. However, the crisis puts even more pressure on China to revalue its currency./.
