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ECONOMY

China Books First Half-Year Current Account Deficit in 20 Years

China’s goods trade registered a surplus of $104.2 billion in the second quarter. Photo: VCG
China’s goods trade registered a surplus of $104.2 billion in the second quarter. Photo: VCG

China’s current account booked its first half-year deficit in 20 years as spending on overseas services continued rising and outpaced income generated from the sale of goods by the world’s largest exporter.

The current account balance recorded a deficit of $28.3 billion in the 2018 first half, China’s first mid-year deficit since 1998, data from the State Administration of Foreign Exchange (SAFE) showed. The current account records a nation's transactions with the rest of the world, mainly net trade in goods and services.

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