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BEIJING (MNI) - China's imports bounced back in April, but exports slowed,
data released by the General Administrative of Customs showed Wednesday. Here
are the key points of note:
- Exports fell 2.7% y/y in April after a 14.2% gain in March,
underperforming the market survey conducted by MNI which projected 3.7% growth.
It was the third year-on-year drop in the last five month. Total exports
amounted to $193.49 billion from $198.67 billion in March.
- Imports rose 4.0% y/y to $179.65 billion, rebounding from the 7.6% y/y
fall recorded in March, beating MNI's median of -4.0% and marking the first y/y
rise in the past five months.
- The trade surplus in April, as a result of smaller exports and larger
imports, narrowed to $13.84 billion from %32.61 billion in March, lower than the
forecast of $39.1 billion.
- Exports to the U.S. plunged 13.2% y/y from last month's 3.7% y/y gain, while
imports fell at the same pace of 25.8% y/y. Exports to the EU and Japan both
slowed, rising 6.2% y/y and losing 16.4% y/y, respectively.
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