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China's trade surplus continues to soar in May

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China's trade surplus in May stood at 13 billion U.S. dollars, with a year-on-year rise of 44 percent, said sources with the General Administration of Customs (GAC).

A report from the Customs office said China's exports grew by 25.7 percent year on year to 347.3 billion U.S. dollars in the first five months, while imports were worth 300.5 billion U.S. dollars, up 22 percent from a year ago.

The recorded trade volume in May was 133.2 billion U.S. dollars, an increase of 23.6 percent.

Exports in May reached 73.1 billion U.S. dollars, growing 25.1 percent, while imports reached 60.1 billion U.S. dollars, up 21.7 percent.

The European Union remains China's top trading partner with bilateral trade in the first five months growing 20.2 percent year on year to 98.33 billion U.S. dollars.

The United States is China's second largest trading partner with the trade volume reaching 97.37 billion U.S. dollars. Japan is China's third largest trader with volume reaching 79.13 billion dollars in May.

The Association of Southeast Asian Nations (ASEAN) remains China's fourth largest trading partner with bilateral trade growing by 21.6 percent year on year to 59.04 billion U.S. dollars.


 

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