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Thursday, July 04, 2019, 20:50
China sees 2019 service exports soar through May
By chinadaily.com.cn
Thursday, July 04, 2019, 20:50 By chinadaily.com.cn

Passengers get ready to board the first direct flight from Shijiazhuang, Hebei province, to Moscow, Russia, on March 3 this year. (XINHUA)

China's service exports have shown strong growth in the first five months of 2019 and the trade deficit in services has narrowed by 10.1 percent year-on-year, data released Thursday by the Ministry of Commerce showed.

READ MORE: China's service sector maintains steady expansion

Some sectors of the service industry have shown outstanding performance in trade, such as the transportation industry

According to the ministry, the volume of service trade from January to May totaled 2.18 trillion yuan (US$318.6 billion), up 3.5 percent year-on-year. The exports amounted to 777 billion yuan, up 10.3 percent. The deficit in service trade saw a 10.1 percent year-on-year reduction to 635 billion yuan.

A spokesperson from the ministry said the fast-growing output of the country's service industry has contributed to the high growth of the service trade from January to May.

Some sectors of the service industry have shown outstanding performance in trade, such as the transportation industry, as the trade volume went up by a 6.4 percent year-on-year to 404.3 billion yuan, according to the ministry.

ALSO READ: China's service trade hits new high in H1


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