China's Q2 current account surplus rises to USD 59.4 bn

China's current account surplus rose to USD 59.4 billion in Q2, up from USD 48.1 billion in Q1 but capital account recorded deficit of USD 59.4 billion, the government said today.
The capital and financial account had a deficit of USD 59.4 billion in Q2, an increase on the USD 48.1 billion deficit in Q1, preliminary data released by the State Administration of Foreign Exchange (SAFE) said.
In H1, the preliminary current account figures showed a USD 98.7 billion surplus, with the capital and financial account recording a USD 59.5 billion deficit, state-run Xinhua news agency reported.
SAFE attributed the strong current account figures due to the large surplus trade in goods, which stood at USD 125 billion in Q2, as exports picked up.

In Q2, China's exports rose by 1.2 per cent year-on-year, customs data showed.
SAFE releases both preliminary and final figures on the balance of international payments each quarter.