China’s imports have been growing and according to latest figures available, it has gone upwards in the month of May. Though the Government is trying to control the overheated economy, the global trade surplus of China touched $13 billion in the month of May.
China witnessed a trade deficit of $1.02 billion during the period January to March in the current year. This is considered to be the first quarterly trade deficit of China in the past six years.
Since March 2010, this is for the first time that China has reported a trade deficit and the news has really shocked the people in the trade. Imports went up by 19.4% and this helped the trade deficit to go up by $7.3 billion. This is the highest trade deficit of China in seven years.