China's trade surplus tops 291 bn yuan in Aug: Official data

05 Oct '21

1 min read

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China's international goods and services trade surplus stood at 291.6 billion yuan (about $45 billion) in August, according to recent official data released by the State Administration of Foreign Exchange, which revealed the country's trade income amounted to approximately 2 trillion yuan and expenditure stood at around 1.71 trillion yuan.

China's goods trade income came in at 1.82 trillion yuan with an expenditure of 1.46 trillion yuan, leading to a surplus of 363.2 billion yuan, the data showed.

The services trade saw a deficit of 71.7 billion yuan, with the sector's income and expenditure standing at 178 billion yuan and 249.6 billion yuan respectively, official Chinese media reported.

The country’s retail sales of consumer goods went up by 2.5 per cent year on year in August this year, according to the National Bureau of Statistics (NBS), whose data showed retail sales of consumer goods totaled around 3.44 trillion yuan ($533 billion) in August. The figure 3 per cent higher from the level in August 2019.

In the January-August period, retail sales gained by 18.1 per cent year on year and was up 8 per cent from the same period in 2019, according to NBS.

ALCHEMPro News Desk (DS)

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