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China Current Account Surplus Returns on Record Trade Results Due To Better-Than-Expected Exports

beijingwalker

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Nov 4, 2011
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China Current Account Surplus Returns on Record Trade Results
Bloomberg News

August 07 2020, 3:37 PM (Bloomberg) -- China’s current account returned to surplus in the second quarter due to better-than-expected exports and reduced overseas travel during the global pandemic. The current-account balance at the end of June was $119.6 billion, the State Administration.



Key Insights The surplus in the goods trade was $161.3 billion, the highest in data going back to 1998, while the deficit in services of $29.4 billion was the smallest since 2013.

The shrinking services deficit was due to the collapse in outbound tourism during the pandemic and also fewer inbound shipments, as China had to pay less in freight fees, according to SAFE.

China’s 2Q Preliminary Current Account Surplus $119.6b (Table) China’s trade surplus stayed at a high level in the second quarter on rising demand for goods including medical supplies, a gradually reopening world economy, and falling imports. ©2020 Bloomberg L.P.

https://www.bloombergquint.com/glob...unt-back-to-surplus-on-trade-gain-travel-halt
 

Paul2

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Nov 24, 2018
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China Current Account Surplus Returns on Record Trade Results
Bloomberg News

August 07 2020, 3:37 PM (Bloomberg) -- China’s current account returned to surplus in the second quarter due to better-than-expected exports and reduced overseas travel during the global pandemic. The current-account balance at the end of June was $119.6 billion, the State Administration.



Key Insights The surplus in the goods trade was $161.3 billion, the highest in data going back to 1998, while the deficit in services of $29.4 billion was the smallest since 2013.

The shrinking services deficit was due to the collapse in outbound tourism during the pandemic and also fewer inbound shipments, as China had to pay less in freight fees, according to SAFE.

China’s 2Q Preliminary Current Account Surplus $119.6b (Table) China’s trade surplus stayed at a high level in the second quarter on rising demand for goods including medical supplies, a gradually reopening world economy, and falling imports. ©2020 Bloomberg L.P.

https://www.bloombergquint.com/glob...unt-back-to-surplus-on-trade-gain-travel-halt
Making those masksss must be making a lot of money. I think I should buy some of those mask machines too.
 

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