ID :
212536
Thu, 10/13/2011 - 08:56
Auther :
Shortlink :
http://m.oananews.org//node/212536
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China's trade surplus narrows in Sept.
HONG KONG, Oct. 13 (Yonhap) -- China's trade surplus shrank for the second month in a row in September largely due to weakening external demand from its major trading partners amid global economic uncertainties, the Chinese customs office said Thursday.
According to the General Administration of Customs, the country's trade surplus stood at US$14.5 billion last month, down from a surplus of $17.8 billion tallied in August.
Exports rose 17.1 percent from a year ago to $169.6 billion, and imports also grew to $155.1 billion, up 23.7 percent from a year earlier.
Both exports and imports grew at a slower pace last month. In August, exports grew 24.5 percent and imports gained 30.2 percent.
The figure was released as the U.S. Senate passed earlier this week a controversial bill that could punish China for its "undervalued" currency with retaliatory tariffs and other penalties.
China has been criticized by the U.S. for keeping its currency artificially low to boost exports, sparking global trade imbalances.
According to the General Administration of Customs, the country's trade surplus stood at US$14.5 billion last month, down from a surplus of $17.8 billion tallied in August.
Exports rose 17.1 percent from a year ago to $169.6 billion, and imports also grew to $155.1 billion, up 23.7 percent from a year earlier.
Both exports and imports grew at a slower pace last month. In August, exports grew 24.5 percent and imports gained 30.2 percent.
The figure was released as the U.S. Senate passed earlier this week a controversial bill that could punish China for its "undervalued" currency with retaliatory tariffs and other penalties.
China has been criticized by the U.S. for keeping its currency artificially low to boost exports, sparking global trade imbalances.
