China’s Exports Fall 6.4%, Imports Drop 16.2% In April

China’s exports fell 6.4% year-on-year in April, falling short of the market’s expectation of a 2.4% rise, and following a 15% contraction in March.

Imports dropped 16.2% year-on-year for the month, also worse than the 12% expected drop, and after falling 12.7% in March.

As a result, trade surplus widened to RMB210.2 billion (US$34 billion), from RMB18.2 billion (USD3.1 billion) in March.

"We continue to see strong headwinds in China’s trade sector in the foreseeable future," writes a report by ANZ. "We expect that authorities will reduce tax burdens by rolling out more export tax rebates and will cut interest rate further to lower firms’ funding costs."

China Expert network
China Expert network