Exports increase for 2nd consecutive month in April
BEIJING: Chinese exports rose for the second consecutive month last month, official data showed yesterday, boosted by improving global demand, but at a slower pace than in the previous month.
Exports were up eight per cent year-on-year to US$180 billion (RM779.4 billion), while imports were up 11.9 per cent at US$142 billion.
That pushed the trade surplus to US$38 billion from US$23.9 billion in March, according to Customs’ figures.
Exports to the huge United States market increased by 11.7 per cent last month, compared with 19.7 per cent a month earlier, while shipments to the European Union rose four per cent.
The figures follow official and private surveys showing that factory activity expanded at a slowerthan-expected pace last month.
China’s export data had improved in March as fears of a trade war with the US eased after President Donald Trump’s stance on Beijing softened.
“Today’s trade data suggests that growth momentum weakened slightly last month,” according to an analysis by Nomura investment bank, adding that it expected the economy to grow 6.8 per cent year-on-year in the second quarter, compared with 6.9 per cent in the first three months of this year.
While exports increased at a slower rate than March, when they soared by 16.4 per cent, they marked a second consecutive month of growth after a 1.3 per cent fall in February. AFP