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.

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