Ex­ports in­crease for 2nd con­sec­u­tive month in April

New Straits Times - - Business -

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

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