China’s exports increased 8.5% year-on-year in April, slowing from March, according to data from the General Administration of Customs on Tuesday. This was the second straight month of growth after 14.8% recorded in March. Mainland China’s imports decreased 7.9% from a year ago in April, much worse than market estimates. Its trade surplus beat expectations with $90.2 billion for the month, up from $88.2 billion in March. In January-April, the country’s outbound shipments rose 2.5% from the prior year, fueled by automobiles which was doubled in the same period. Exports of refined oil and steel products surged by 41% and 33%, respectively in the first four months of 2023. Bilateral trade with the US amounted to $218 billion in the four month period, plunging 11.2% from last year. Trade between the EU and China dropped 3.5% to $263 billion in the same period.
Source: Anadolu Agency