In the fourth quarter of 2024, China experienced a notable expansion in its current account surplus, reaching $163.8 billion. This was a significant increase compared to the revised $58.5 billion surplus recorded for the same period in the previous year. However, it did fall short of the preliminary estimate of $180.7 billion. This quarter marked the most substantial surplus ever recorded, primarily driven by a surge in the goods surplus, which rose to $249.8 billion from $151.2 billion, as exports increased by 11.1%. At the same time, China's services deficit narrowed to $47.4 billion, down from $57.7 billion a year earlier, while the primary income deficit expanded to $43.3 billion, compared to $39.9 billion previously. The secondary income surplus remained largely unchanged at $4.7 billion, in contrast to $4.9 billion from the previous year. For the entire year of 2024, China's current account surplus widened significantly to $423.9 billion, up from $263.4 billion in 2023.
The material has been provided by InstaForex Company - www.instaforex.com
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