May 09, 2019 (China Knowledge) - According to data from the China’s General Administration of Customs, customs data showed that trade surplus for April stood at USD 13.84 bln. Economist polled by Reuters expected trade surplus to be much higher at USD 35 bln instead. April’s trade also underperformed compared to last month, March’s trade surplus of USD 32.65 bln.
Official data also revealed that dollar-denominated exports fell 2.7% from a year ago. This is far lower than the expected increase of 2.3% from a year earlier according to Reuters poll. Meanwhile, April imports unexpectedly rose 4% from a year ago, whereas economists predicted a decline of 3.6% instead.
More notably, Sino-US trade dropped 11.2% YoY to USD 162.4 bln in the first four months. United States remains China’s third largest trade partner, accounting for 11.5% in total value during the period. On the other hand, China’s trade surplus to the US increased by 10.5% to USD 84.18 bln.
Elsewhere, China trade with the European Union and ASEAN both reported growth in the first four months. In the European region, trade value rose by 11.8% YoY to RMB 1.5 trln. Trade value climbed by 13.4% to RMB 1.28 trln.
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