China Recorded Trade Surplus of $13.1 Billion in May

The world’s second largest economy recorded a trade surplus of 13.1 billion in May against 11.43 billion dollars in April, said Friday the General Administration of Customs.

Last month, Chinese exports grew 19.4% year on year to reach 157.16 billion dollars, while imports rose 28.4% year on year to 144.11 billion dollars, said administration in a statement.

During the first five months of the year, the trade surplus fell by 35.1% yoy, to $ 22.97 billion dollars.

According to the PBOC, China’s trade surplus may shrink this year to go down to $ 100 billion against $ 180 billion in 2010.

The weight of the trade surplus in China’s GDP could fall below 2% as part of government efforts to reduce this rate, the source said.