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China's foreign trade reported another strong month in April, with exports of labour intensive products and mechanical and electrical products and imports of commodities showing rapid growth, data from the General Administration of Customs showed on Friday.
Here are the highlights:
- Exports rose in April for the 11th month by 32.3% y/y, accelerating from the previous 30.6% y/y growth. The surge was driven by recovering demand from major partners, including European countries and the U.S. For the first four months, the total increased 44.0% y/y to $973.70 billion.
- Exports to the U.S. rose 60.8% y/y in the January-April period, while those to the EU and Japan increased 46.6% and 21.2%, respectively.
- Imports rose 43.1% y/y in April, faster than the 38.1% growth recorded in March, driven by the expanding imports of commodities such as iron and ore, soybeans and copper, as well as crude oil and natural gas. The total for the first four months increased 31.9% y/y to $815.79 billion.
- Jan-Apr imports from the U.S. were up 64.7% y/y, while those from the EU and Japan rose 35.7% y/y and 27.9% y/y.
- The trade surplus registered $157.90 billion in the first four months, with the April surplus expanding to $42.86 billion from $13.80 billion in March.