China’s services trade deficit posted a robust rise in July according to the latest official figures.
In July China’s services trade deficit was USD$25.3 billion, for an increase of 14.5% compared to the reading of $22.1 billion in June according to the latest data from the State Administration of Foreign Exchange (SAFE).
Tourism accounted for 77.9% of difference, following by transportation at 26.9%.
SAFE data further indicates that China’s goods trade surplus was $32.6 billion in July, for a contraction of 35% compared to $50.5 billion the previous month.
The combined trade surplus for July was $7.3 billion, as compared to $28.5 billion the preceding month.
China’s services trade deficit for January-July was $174.4 billion, while the goods and services trade surplus for the same period was $15.3 billion.