China: Exports and imports slow markedly in April
May 10, 2012
In April, exports grew 4.9% over the same month last year, which was well below both the 8.9% rise observed in March and market expectations that had exports expanding 8.5%. On the other hand, imports added a paltry 0.3% in April, after expanding 5.3% in March. The figure undershot the 10.9% increase expected by the market. As a result, the trade surplus widened robustly from USD 5.3 billion in March to USD 18.4 billion in April, which came in well above the USD 9.9 billion surplus expected by market analysts. Meanwhile, the Canton Fair, which is the biggest trade show in China and represents a reliable gauge for future shipments, recorded a drop of 2.3% in signed export orders at the fair's spring session, the first decline since 2009.