China: Exports and imports rebound in April
May 8, 2014
In April, exports increased 0.9% over the same month last year. The mild expansion contrasted both the 6.6% decline recorded in March and the 2.0% drop that market analysts had expected. According to some analysts, exports continue to be affected by exporters overstating of trade invoicing early last year, which bolstered export data.
Imports rose 0.8% annually in April, which contrasted the 11.3% decrease recorded in March. The expansion also contrasted the 2.1% drop that market analysts had expected.
The trade balance recorded a surplus of USD 18.5 billion in April, which was broadly unchanged compared to the USD 18.1 billion recorded in the same month last year and overshot market expectations of a USD 17.7 billion surplus. The 12-month moving sum of the trade surplus inched up from USD 234 billion in March to USD 235 billion in April.
The government set target growth for the total volume of exports and imports at 7.5% for this year. FocusEconomics Consensus Forecast panelists project that merchandise exports will grow 8.4% in 2014 (USD 2.4 trillion) and they see the trade surplus reaching USD 271 billion. For 2015, the panel expects exports to increase 9.1% and the trade surplus to widen to USD 282 billion.