China hits record trade surplus in August

China's trade surplus surged 77.8 percent year-on-year to a record USD 49.8 billion in August, government figures showed Monday.
Exports grew 9.4 percent from a year earlier to USD 208.5 billion, up for the fifth consecutive month, according to data released by the General Administration of Customs. Imports by the world's second-largest economy fell 2.4 percent from a year earlier to USD 158.6 billion, the second consecutive month of fall.
Exports rose while imports declined, the monthly trade surplus hit the all-time high in August, surpassing the previous record of USD 47.3 billion set in July.
Across the first eight months of the year, the trade surplus increased 30.3 percent year-on-year to USD 200 billion. By region, exports to the European Union (EU), China's biggest trading partner, gained 10.9 percent from a year earlier to USD 241.9 billion in the January-August period. Exports to the US, the second largest trade partner, grew 7.0 percent to USDD 249 billion.
Commerce Ministry official Li Jian said trade with major partners including the EU, the US and the Association of Southeast Asian Nations (ASEAN) continued to grow last month, suggesting that recovery of external demand since the second quarter of this year has further consolidated, according to state-run Xinhua News Agency. (end) mk.bs