MNI 5 Things: Solid Growth in Jun China Trade; Surplus Expands

     BEIJING (MNI) - China's General Administration of Customs announced trade

statistics for the first half of 2018 on Friday. Below are five things we learnt

from the release:

     - June exports rose by 11.3% y/y to USD216.74 billion, in line with MNI's

survey for 10.0% y/y growth. Exports for the first half of the year increased by

12.8% y/y to USD1.17 trillion, stronger than the 8.5% y/y reading in the same

period in 2017. Exports performed fairly well considering the high level of

uncertainty regarding global trade.

     - Imports in June reported a slower increase of 14.1% y/y to USD216.74

billion. Despite the rise, the data failed to meet the 21.0% y/y expectations.

Imports in the first six months amounted to USD1.03 trillion, rising 19.9% y/y

compared with a year ago.

     - The trade surplus in June expanded to USD41.61 billion - its largest in

six months. Year-to-date surplus came in at USD139.65 billion, the lowest

reading in four years. The fall in the surplus is in line with the attempts by

the Chinese government to seek more balanced trade.

     - China's exports to the U.S. in June rose 12.6% to a record USD42.61

billion. Imports from the U.S. rose 9.6% y/y at USD13.65 billion. The surplus

rose to USD28.97 billion.

     - The Chinese government is taking a prudent attitude towards trade. GAC

spokesperson Huang Songping noted today that China's trade in the first half has

been growing steadily but faces challenges amid rising instabilities and

uncertainties in the global environment.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Singapore Bureau; +65 8233 2326; email: Asia-Editor@marketnews.com

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