#China’s #trade balance grew less than expected in April, recovering only partially from a sharp fall in the prior month as a mild increase in exports was largely offset by a substantially #bigger-than-expected jump in imports.
#China’s trade balance was a #surplus of $72.35 #billion in April, data from the Customs Administration showed on Thursday. The reading was weaker than expectations of $81.40 billion, but recovered from the $58.55 #billion seen in March.
Thursday’s reading showed some improvement in trading activity, particularly exports, after the country’s trade balance plummeted to a four-month low in March- hit chiefly by a #sharp decline in exports.
Exports rose 1.5% year-on-year in April, compared to expectations for a rise of 1%. They had tumbled 7.5% in March.
#Chinese_exports still remained largely weak amid sustained headwinds from weak overseas demand for Chinese goods.
But any increases in exports were largely offset by a bumper increase in #Chinese imports.
Imports surged 8.4% in April, blowing past expectations for a rise of 5.4% and also recovering from the 1.9% drop seen in March. The outsized print was in part driven by a weaker base for comparison from the prior year, but also indicated some recovery in domestic demand amid improving economic conditions.
#China’s economy picked up pace in the first quarter of 2024, aided by sustained stimulus measures and some improvements in business activity. This in turn factored into increased domestic demand.
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