MNI DATA IMPACT: China March Exports Rebound; Surplus Expands

     BEIJING (MNI) - China's exports rebounded sharply in March helping

expanding trade surplus, according to data released by the General

Administrative of Customs on Friday. Here are the key takeaways:

     - Exports gained 14.2% y/y in March from -20.7% in February, beating MNI

survey forecast of 8.4% y/y growth. It was the sharpest y/y gain in the last

five month. Total exports rose to USD198.67 billion from USD135.24 billion in

February.

     - Imports fell 7.6% y/y to USD166.03 billion, compared with a 5.2% y/y

decrease in February, lower than MNI's median of -1.8%. 

     - Larger exports and smaller imports helped expand trade surplus to

USD32.61 billion from USD4.12 billion in February, beating forecast USD11.3

billion. 

- Exports to the U.S. bounced back to 3.7% y/y gain from last month's 28.6% y/y

plunge, while imports decreasing 25.8% y/y. Exports to the EU and Japan rose

23.8% y/y and 9.6% y/y, respectively. 

     - The good trade momentum in Q1 was led by a stable economy, growing "in a

reasonable range" and a better expectations, but uncertainties in global trade

environment may still undermine trade, a customs spokesman said at a briefing.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

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