Recent Updates
- New Zealand: Food Price Index (Jul)
- New Zealand: Jobseeker Support by Territorial Authority (Jul)
- Korea: Import & Export Price Indexes Press (Jul)
- US: Business Formation Statistics, Producer Prices (Jul)
- US: Business Formation Statistics by State (Jul)
- more updates...
Economy in Brief
U.S. Unemployment Claims Continue on an Uptrend
Initial claims for unemployment insurance filed in the week ended August 6 rose 14,000 to 262,000...
RICS Survey Points to More U.K. Housing Sector Weakness
The survey of housing market conditions in the U.K. continues to show strength in prices versus weakness...
U.S. CPI Unchanged in July with Drop in Energy Prices
Consumer prices were unchanged in July after an outsized 1.3% m/m jump in June...
U.S. Federal Government Budget Deficit Shrinks in July
The U.S. Treasury Department reported a federal budget deficit of $211.1 billion in July...
U.S. Mortgage Applications Rose Slightly in the Latest Week
Mortgage applications increased 0.2% (-62.9% y/y) from one week earlier...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Louise Curley August 27, 2007
China's trade surplus declined by $2,426 million from June to $23,294 million in July, but it was still the third highest on record. Exports were up by $6,894 million but imports rose by $9,320 million. Data on the trade balance, exports and imports are shown in the first chart.
China's balance of trade with Japan continues to show surplus, while that with Europe and the United States show large deficits. There has been some decline in the deficits with the U.S. and Europe since February of this year, but the declines have been small. The second chart shows the balance of trade with Japan, the U.S. and Europe.
The July data on China's exports to the U. S. are probably too soon to reflect any impact of the spate of recalls and questions about the quality of some of its exports, notably frozen fish, tooth paste, toys and blankets. As the third chart shows, July exports of toys to the U. S. were up and exports of frozen fish were flat.
CHINA | Jul 07 | Jun 07 | Jul 06 | M/M Dif | Y/Y Dif | 2006 | 2005 | 2004 |
---|---|---|---|---|---|---|---|---|
Exports | 107115 | 100221 | 79927 | 6894 | 27189 | 968950 | 761953 | 593327 |
Imports | 83821 | 47501 | 65677 | 9320 | 18144 | 791473 | 659959 | 561228 |
Balance | 23294 | 25720 | 14250 | -2426 | 9044 | 177477 | 101999 | 32094 |
Exports to: | ||||||||
Japan | 8946 | 7992 | 7331 | 954 | 1614 | 91723 | 84097 | 73536 |
U.S. | 19791 | 18799 | 16613 | 993 | 3178 | 203516 | 162938 | 124973 |
Europe | 22152 | 23321 | 18042 | -1169 | 4110 | 215310 | 165678 | 122923 |
Imports from: | ||||||||
Japan | 11373 | 10730 | 9673 | 643 | 1700 | 115811 | 100468 | 94192 |
U.S. | 5879 | 5504 | 5130 | 376 | 749 | 59223 | 48735 | 44653 |
Europe | 9370 | 10888 | 9614 | -1518 | -244 | 114877 | 96403 | 88731 |