China reports $39.2 billion current account surplus in first quarter

China's State Administration of Foreign Exchange (SAFE) has released the current account data for the January-March 2024 period.

The current account, which represents the total balance of income and expenditure in foreign trade, services, investments, and current transfers, recorded a surplus of $39.2 billion in the first 3 months.

During this period, a surplus of $121.1 billion was recorded in foreign trade, while a deficit of $61 billion was recorded in services trade, a deficit of $24.3 billion in investments, and a surplus of $3.4 billion in current transfers.

The ratio of the current account surplus to the gross domestic product was 0.9 percent.