Region:
Asia
Category:
Economy

China's exports grew 7% in May and reached 195 470 million dollars

Trade with the EU increased by 11.7 percent; 5.1 percent with the United States; 3.6 percent with the Association of Southeast Asian Nations and Japan 3.4 percent

China's exports increased seven percent year on year in May, up to 195 470 million dollars, the General Administration of Customs (GAC).

Exports rose in May after rising 0.9 percent in April and abrupt declines in March and February.

Imports also fell 1.6 percent to 159,550 million, and the total volume of foreign trade grew by three percent and reached 355 020 million, according to data from the AGA.

The trade balance recorded a surplus of 35,920 million in May, the agency added.

The volume of foreign trade in the first five months rose 0.2 percent year on year, reaching 1.68 billion, according to the same source.

During that period, exports fell 0.4 percent and imports increased 0.8 percent, while the trade surplus amounted to 71,300 million.

Along with the positive data, China's trade with its major trading partners continued to grow from January to May. Trade with the EU increased by 11.7 percent; 5.1 percent with the United States; 3.6 percent with the Association of Southeast Asian Nations and Japan 3.4 percent.

China set a target of commercial growth of 7.5 percent this year, below the target of 8 percent for 2013, in which the actual increase was 7.6 percent.

Zhang Ji, a Ministry of Commerce of China, said in May that achieve the business purpose was a "difficult task" because the pressure of slowdown is affecting the economy.

To solve the problem, the State Council of China announced a directive last month to ensure the stable growth of foreign trade. Thereafter, the AGA and other officials unveiled a series of measures to support trade.

Source: Xinhua News Agency of China

traslation: Belén Zapata