Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 08, 2013 10:17:27

China - Foreign trade surplus in January to 29.2 mld.USD, in 2012 then 330 mld.USD

Chinese Statistical Office announced that the next issue will have information on the development of foreign trade converted into local currency and not in dollars, as it was before. This despite the fact that a full 80% over border transactions are still conducted in dollars. Statistical Office of the He argued that the world is a common practice to place such statistics in local currencies. Denominations data in domestic currency government extension office wants to increase the importance of their domestic currency.

Office announced in January that exports reached 1.18 trillion yuan = about 187.4 mld.USD and grew year over year by 3.4%. The level of imports reached 994.9 billion yuan = about 158.2 mld.USD and yoy growth of 12.4%. Total Blance then showed a surplus of EUR 29.2 mld.USD.

For the full year 2012 foreign trade surplus reached 330 mld.USD, which represents about 9% of total Chinese trade balance, which reached the level of USD 3.87 trillion.

China purchased in January of 24.87 million metric tons more oil than it exported, which is equivalent to about 5.88 million barrels a day, which is the most since May last year.

Afternoon will be published in January U.S. foreign trade statistics. Waiting for them to reduce the final deficit to about 46 mld.USD mld.USD compared to December's 48.7. The deficit should be involved primarily a general growth in foreign demand oživenám related to the ongoing growth in China and the improving situation in Europe.

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