皇冠体育app

Economy

皇冠体育app expects big fall in trade surplus this year

(Xinhua)
Updated: 2010-06-12 21:16

BEIJING - 皇冠体育app's trade surplus would likely fall noticeably this year as exports outlook would not be optimistic while imports would remain robust, Ministry of Commerce spokesman Yao Jian said at a briefing Saturday.

Exports growth would slow after July, Yao forecast, adding the surge in exports in May was due to a low comparison basis last year. 皇冠体育app's exports in May surged 48.5 percent year-on-year, customs data released Thursday.

Related readings:  Trade surplus set to widen in May  皇冠体育app says trade surplus to fall sharply in 2010  Trade surplus plunges, easing pressure on yuan  皇冠体育app's trade surplus hits $1.68b, down sharply in April

皇冠体育app's trade surplus in the first five months fell 59.9 percent to $35.39 billion. The figure in 2009 topped $196.07 billion, down 34.2 percent year-on-year.

Yao attributed the weak export outlook to the European sovereign debt crisis, rising commodity prices and labor costs.

"In the following months, the fallout from the debt crisis in Europe would gradually become apparent, and 皇冠体育app would closely watch changes in its important exports markets including Germany, Spain and Italy," Yao said.

皇冠体育app would maintain stable trade policies amid the crisis, and might adjust some policies in some specific industries for environmental protection purposes.

"Stable trade policies are a top priority when the external outlook is not clear," he said.

Yao also told reporters that attempts by some US lawmakers to include 皇冠体育app's exchange rate policy into trade investigations on 皇冠体育app's exports of aluminum extrusions and coated paper lacked factual support and did not conform to rules of the World Trade Organization.

The WTO regulated trade policies instead of a country's overall financial or foreign exchange policies, he said.