China's trade deficit in services widened to $18.3 billion in May, as Chinese tourists continued to spend more abroad than foreigners visiting the country, the foreign exchange regulator said on Tuesday.
The deficit was led by a $16.2 billion gap in spending between Chinese and foreign tourists, according to data from the State Administration of Foreign Exchange(SAFE).
The country posted a $17.3 billion deficit on trade in services in April. Last year the services sector had a deficit of $10.2 billion in May.
For the first five months, China had a deficit of $76.7 billion in services trade and a surplus of $207.8 billion on trade in goods, producing a combined surplus on trade in goods and services of $131 billion, the data showed.
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The deficit was led by a $16.2 billion gap in spending between Chinese and foreign tourists, according to data from the State Administration of Foreign Exchange(SAFE).
The country posted a $17.3 billion deficit on trade in services in April. Last year the services sector had a deficit of $10.2 billion in May.
For the first five months, China had a deficit of $76.7 billion in services trade and a surplus of $207.8 billion on trade in goods, producing a combined surplus on trade in goods and services of $131 billion, the data showed.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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