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China's current account surplus hits $94.1 bn in H1 2024

13 Aug '24
15 min read
China's current account surplus hits $94.1 bn in H1 2024
Pic: Adobe Stock

Insights

  • China's current account surplus reached $94.1 billion in the first half of this year, representing 1.1 per cent of GDP.
  • The trade in goods surplus contributed $288.4 billion, the second highest on record.
  • This growth was driven by stable economic performance, the development of new quality productive forces, and recovering external demand.

China's current account surplus reached $94.1 billion in the first half (H1) of this year, according to the State Administration of Foreign Exchange. The surplus represented 1.1 per cent of the country's gross domestic product (GDP) from January to June, a figure that remains within a reasonable range.

The trade in goods surplus accounted for $288.4 billion of the total, marking the second-highest level on record. The growth in goods trade is due to China's stable economic performance, the advancement of new quality productive forces, and the recovery of external demand, as per Chinese media reports.

Fibre2Fashion News Desk (DP)

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