China’s April exports jumped 14.1% year-on-year to $359.4bn, smashing forecasts of 7.9%, while imports surged 25.3% to a record $274.6bn, lifting the trade surplus to $84.8bn.
Summary: China’s April trade surplus came in at $84.82 billion, up sharply from $51.13 billion in March and above market expectations of $83.3 billion, according to customs data Exports grew 14.1% year-on-year to $359.44 billion in April, a dramatic acceleration from March’s 2.5% rise and well ahead of the 7.9% forecast, per customs data Imports climbed 25.3% year-on-year to a record $274.62 billion, above the prior month’s 27.8% pace and significantly exceeding forecasts of 15.2%, according to the data The export acceleration was driven in part by overseas buyers rushing to stockpile components amid fears the Iran war could push global input costs higher, per reporting on the data New export orders rose to their highest level in two years in April, according to separate factory activity data cited in the reporting Factory data showed input prices remained elevated, particularly for refined goods, petroleum, coal and chemicals, while unemployment edged higher and retail sales continued to underperform industrial output, per the same reporting China’s Q1 GDP growth hit 5% year-on-year, at the top of the government’s full-year target range, reducing the immediate need for stimulus, according to the reporting U.S
President Donald Trump is expected to visit China next week for talks with President Xi Jinping, per the reporting China’s export growth surged in April, driven in large part by a global scramble to secure components ahead of anticipated cost increases tied to the ongoing Iran war, with the headline trade figures beating expectations across the board when customs data was released over the weekend. Exports expanded 14.1% year-on-year in U.S. dollar value terms to reach $359.44 billion, a sharp acceleration from the 2.5% gain recorded in March and well above the 7.9% rise that