+91 9673888540 info@rajveerexim.com

China April trade data surprises: exports fall 2.7 pct, imports up 4 pct

China’s economy is expected to slow to 6.2 percent this year, the weakest in nearly 30 years.

BEIJING: China’s April exports unexpectedly fell 2.7 percent from a year earlier, while imports grew by a surprising 4 percent, their first increase in months, official data showed on Wednesday.

That left the country with a trade surplus of $13.84 billion for the month, according to the General Administration of Customs.

Analysts polled by Reuters had expected April shipments from the world’s largest exporter to have increased a modest 2.3 percent from a year earlier, after a strong rebound of 14.2 percent in March.

Imports were expected to have dropped 3.6 percent, narrowing from the previous month’s 7.6 percent fall. The trade surplus was projected to have expanded to $35 billion last month from $32.65 billion in March.

China’s economy is expected to slow to 6.2 percent this year, the weakest in nearly 30 years, according to a Reuters poll, as sluggish demand at home and abroad weighs on activity despite a flurry of policy support measures.

Comments are closed.