China: Exports contract again in April
May 8, 2015
In April, exports fell 6.4% over the same month last year, which followed the 15.0% decline tallied in March. April’s drop contrasted the 1.6% increase that market analysts had expected and represented the second consecutive decline. Imports fell 16.2% annually in April, which was below the 12.7% decline tallied in March. The print exceeded the 12.2% drop that market analysts had expected and represented the sixth consecutive contraction.
As a result of the sharp drop in imports, the trade surplus widened to USD 34.1 billion in April (March: USD 3.1 billion) from USD 18.7 billion in the same month last year. The 12-month moving sum of the trade surplus rose from USD 488 billion in March to USD 503 billion in April, which marks an all-time high.