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- Chinese trade figures for April showed that Chinese imports jumped 8.4% in April from a year ago, exceeding forecasts of 5.4%. Exports also increased 1.5%, above the 1% gain expected by analysts.
- China’s trade surplus decreased to USD 72.35 billion in April 2024 from USD 86.46 billion in the same period a year earlier, below market forecasts of USD 76.7 billion, as exports grew much less than imports.
- For the first four months of the year, the country registered a surplus of USD 255.66 billion, with exports advancing 1.5% to USD 1.1 trillion while imports rose 3.2% to USD 843.91 billion.
- Exports from China advanced 1.5% year-on-year to a three-month high of USD 292.45 billion in April 2024, rebounding from a 7.5% drop in the earlier month and beating market forecasts of a 1% growth, reflecting an improvement in global demand.
- Imports to China climbed by 8.4% from the prior year to USD 220.10 billion in April 2024, exceeding market forecasts of 5.4% and reversing from March’s 1.9% fall.
- The latest figures came as a welcome surprise amid growing fears that the US could impose more tariffs on Chinese goods.
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