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China reports current account surplus in Q2

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BEIJING, Sept. 26 (Xinhua) — China saw a current account surplus in the second quarter (Q2), reversing from a deficit seen in the first quarter as the economy recovered amid control of the COVID-19 epidemic.

The current account surplus reached 110.2 billion U.S. dollars in Q2, as compared with a deficit of 33.7 billion dollars in Q1, data from the State Administration of Foreign Exchange showed.

The capital and financial account recorded a deficit of 34.5 billion dollars.

Trade in goods posted a surplus of 161.3 billion dollars, while trade in services saw a deficit of 29.5 billion dollars.

In the first half of this year, the country saw a current account surplus of 76.5 billion dollars, accounting for 1.2 percent of the country’s GDP, data from the administration showed.

The administration expected a mild current account surplus for the whole year, with a stable goods trade surplus and narrower service trade deficit. Enditem

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