Trade balance of goods in China by month May 2020

In May 2020, the trade surplus in China amounted to approximately 62.9 billion U.S. dollars. A positive value implies a trade surplus, a negative trade balance implies a trade deficit.

International trade in China

China surpassed the United States as the worlds’ largest goods trading economy in 2013. The total value of China’s imports and exports amounted to around four trillion U.S. dollars that year, a 7.6 percent increase from a year earlier.
China has become a vital trade partner for many economies. In 2017, almost 22 percent of the United States’ imports originated in China. Germany’s exports to China exceeded exports to the UK and Italy in 2017, as was reported by the CIA.

A trade surplus occurs when exports of a country exceed its imports. It leads to a net inflow of domestic currency from foreign countries. The trade balance is a major growth factor for an economy. As a consequence of running a large trade surplus, China holds a vast amount of foreign exchange reserves. Foreign exchange reserves may be viewed as a sign of national strength, but also represent a form of forced savings on the people. China was the country with the highest trade surplus of approximately 351.1 billion U.S. dollars as of 2018.

Monthly trade balance of goods in China from May 2017 to May 2020

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Source

Release date

June 2020

Region

China

Survey time period

May 2017 to May 2020

Supplementary notes

*From 2020, the source started grouping figures for January and February together to curb the influence of the Chinese New Year on the statistic. Chinese New Year falls between January 21 and February 21.

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Statistics on "Key economic indicators of China"

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