Economists polled by Reuters expected to see exports rise 8% while imports remain unchanged after declining by 1.4% year-on-year in the previous month.
QINGDAO, CHINA - MAY 06: Aerial view of illuminated Qingdao Qianwan Container Terminal at dusk on May 6, 2023 in Qingdao, Shandong Province of China.China's exports grew 8.5% in April in U.S. dollar terms, marking a second-straight month of growth, while imports fell 7.9% compared with a year ago.
Economists polled by Reuters estimated exports would rise 8% in April, while imports were forecast to remain unchanged. In March, imports declined 1.4% year-on-year while exports saw a surprise jump of 14.8%, government data showed.China's trade surplus grew to $90.21 billion in April, up from the surplus of $88.2 billion in March.
Softer trade data in April is likely to reflect "residual seasonality" after this year's Lunar New Year, economists at Goldman Sachs said in a Monday note. Goldman Sachs economists expected to see "the dissipation of this seasonal bias to slow export growth in April," they wrote in a note earlier this month previewing China's trade data.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's exports seen rising in April but at slower pace, outlook challenging - Reuters pollChina's exports were expected to have risen again in April, albeit at a less robust pace than a month earlier, a Reuters poll showed, supported by unfulfilled orders after last year's COVID disruptions though slowing global growth is darkening the outlook.
Read more »
HSBC reaches deal to buy out China fund partner, Reuters reportsIf approved, Europe's biggest bank by assets will expand its presence in the $3.8 trillion fund management market in China.
Read more »
Wall Street Week Ahead: U.S. consumer price data to test feared stagflation scenario By Reuters*WALL ST. WEEK AHEAD: U.S. CONSUMER PRICE INFLATION DATA TO TEST FED PAUSE BETS $DIA $SPY $QQQ 🇺🇸🇺🇸
Read more »
Yellen warns of 'constitutional crisis' if Congress fails to act on debt By Reuters*TREASURY SECRETARY YELLEN WARNS FAILURE OF CONGRESS TO ACT WILL CAUSE 'AN ECONOMIC AND FINANCIAL CATASTROPHE' 🇺🇸🇺🇸
Read more »