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Strength of global demand drives China's exports, imports higher

Posted by Ahmed Mamdouh On 5/8/2018 1:27:50 AM In Fundamental_Comment


China's exports exceeded expectations last month and imports also surged, as global demand recovered on easing fears of a trade war with the United States.  

Annual exports for April rose by 12.9% (in U.S. dollar terms), higher than expectations of 8% increase, from a previous of 2.7% down. Imports rose 21.5% from a previous rise of 14.4% and expectations were at 16.0%.

China's trade balance returned to a record a surplus of $28.78 billion from a previous trade deficit of $4.98 billion, compared to forecasts of $27.75 billion surplus.

The foreign trade data reflected the continued strong domestic demand growth as well as a sharp rise in global demand despite trade tensions with the United States.

Washington has asked China to reduce the US trade deficit between them, while called China to wrap up intellectual property rights investigations.

U.S. President Donald Trump's threats to impose tariffs on Chinese imports of $150 billion remain on the horizon. That would escalate tensions as Beijing pledged to follow the same suit by charging imports on a number of U.S. goods, including soybeans.

Some economists analyzed that the import threats have driven companies to speed up their business to avoid the potential fees.

As of 08:22 GMT, the U.S. dollar was 0.03 percent lower versus the yen at $6.3652. 


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