Import growth narrows May trade surplus

BEIJING - China's trade surplus for May narrowed by 33 percent from a year earlier to $13.1 billion, as exports slowed and import growth quickened, according to the General Administration of Customs.

China's imports of iron ore, crude oil and soybean registered rapid growth last month, indicating that domestic demand has not slowed as expected and the nation is not facing a hard landing at the moment, said economists.

Customs announced on Friday that China's trade surplus reached $13.05 billion, compared to $19.5 billion in May 2010 and $11.4 billion in April.