SHANGHAI - For the second month running communist China reported a huge export-driven trade surplus in June, upping May's $13 billion to $14.5bn (€89.90bn; £62.16bn). It is believed to be the largest trade surplus any country has ever recorded.
Says Credit Suisse Asian region economist Dong Tao: "This is a significant number. We're expecting a trade surplus in China of $130 billion this year and a current account surplus of $200 billion. This is unprecedented."
So far this year, China's surplus with the rest of the world has risen to about $61.5 billion, up year-on-year by 55% and on track to surpass last year's record $102 billion.
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