SCMP China reports: Export value rose 14.1 per cent year on year, well above market forecasts The value of China’s exports rose in April by 14.1 per cent, year on year, to US$359.44 billion, according to data released by the General Administration of Customs on Saturday. The reading was above the 6.96 per cent growth forecast compiled by financial data provider Wind. Meanwhile, the value of imports grew by 25.3 per cent last month to US$274.62 billion, exceeding the Wind poll’s 13.86 per cent growth projection, while the trade surplus stood at US$84.82 billion last month, compared with US$51.1 billion in March.
However, Zhang Zhiwei, chief economist at Pinpoint Asset Management, said China’s competitive supply chains had helped offset the impact of the Middle East conflict on export growth in April. “I expect China’s exports to continue to grow by double digits in the coming months. China’s macro policy stance will likely stay unchanged given the help from exporters,” he said, noting that recent “green shoots” in the property sector were also noteworthy.
Key facts
- The reading was above the 6.96 per cent growth forecast compiled by financial data provider Wind.
- “I expect China’s exports to continue to grow by double digits in the coming months.
- China’s macro policy stance will likely stay unchanged given the help from exporters,” he said, noting that recent “green shoots” in the property sector were also noteworthy.
Originally reported by SCMP China. This story has been edited and re-presented by BRIC Team.
