Tuesday, May 20, 2008

China Trade Surplus Higher Than Expected

China Trade Surplus Higher Than Expected
(International Herald Tribune – Reuters)

China recorded a trade surplus in April of $16.68 billion, compared with $13.4 billion in March and $16.9 billion a year earlier, the customs administration said Monday. Exports in April rose 21.8% from a year earlier to $118.7 billion, while imports rose 26.3% to $102.0 billion, the agency said.

The figures were broadly in line with calculations based on trade figures for machinery and electrical products released Friday. These pointed to an overall surplus in April of about $16.65 billion. Economists polled by Reuters had expected a surplus of $14.8 billion based on export growth of 20% and import growth of 27%.

Imports have grown faster than exports for every month since October, apart from March.

April's reading lowered China's rolling 12-month trade surplus slightly to $256.9 billion from $257.1 billion in March, providing further evidence that the surplus is cresting. It was $262.2 billion in 2007.

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