China: Exports contract in April following March's strong rebound
May 8, 2016
Exports declined in April as the favorable base effect that propelled growth in March to an over-one-year high faded away. Exports fell 1.8% annually in April, which sharply contrasted the 11.5% rise recorded in March. Moreover, the print undershot the flat reading that market analysts had expected.
Meanwhile, imports decreased 10.9% annually in April, which followed the 7.6% decline tallied in March. April’s drop was worse than the 4.0% fall that market analysts had expected and represented the 18th consecutive month of contraction, adding to concerns about the state of domestic demand in China.
The trade surplus rose from USD 33.2 billion in April 2015 to USD 45.6 billion April this year. The 12-month moving sum of the trade surplus rose from March’s 603 billion to USD 616 billion in April.