China’s record trade surplus; Turkish budget; Philippine exports

11/07/2006 | Duncan Hooper

China’s trade surplus was a record $14.5 billion in June, beating the previous high of $13 billion set the previous month. Exports surged 23.3% from a year earlier while imports gained 18.9%. Separate data showed annual M2 money supply growth slowed to 18.4% from 19.1%.

Latest figures showed Turkey’s budget surplus at 4.9 billion lira as the government collected unpaid tax from a mobile phone company.

Argentina’s central bank ordered commercial lenders to limit their holdings of government bonds to 35% of total assets by this time next month. The effects are likely to be limited to individual institutions as the banking system average is for government paper to account for just 27.7% of assets.

Serbian annual inflation slid to 15.1 % in June from 16.1% in May as the dinar strengthened.

The value of Philippine exports climbed 17.3% in May from a year earlier to $3.9 billion, powered by sales of electronics.

Related stories

  • Busan 2015: Korea trade key to venue choice

    The decision by the IDB to site its 2015 annual meetings in South Korea highlights the region’s desire to build on a fast growing trade and business relationship

  • Latin hopes grow for new China fiscal stimulus

    China’s plans to roll out a double-barrel fiscal and monetary stimulus package in the months ahead, in an attempt to stave off a marked slowdown in the world’s second largest economy, could offer a sliver of hope for Latin America’s struggling commodities exporters

  • Brazil to sign new credit line with Argentina

    Brazilian and Argentinian officials insist bilateral trade finance arrangement will only involve commercial banks

  • LatAm commodities at risk from China shadow banking cuts

    Latin American commodity producers, under threat from China’s slowdown and emerging market turmoil in the face of US quantitative easing tapering measures, are facing a new threat as the Chinese government seeks to shrink its out-of-control shadow banking sector.

  • China slowdown threatens Asia crisis

    Countries in South-East Asia are worried that China's slowdown will hit their economies hard, two finance ministers tell Emerging Markets


Editor's Picks


In Focus

  1. BRAZIL: Rousseff running out of time to restore economic credibility

  2. FINANCING LATAM’S BANKS: Niche currencies lead the way for LatAm exposure

  3. US QE tapering a good sign but watch the short end…

  4. JIM O'NEILL: Latin America can learn from Mexico’s efforts

  5. LATIN AMERICA: Filling the infrastructure financing gap