China exports fall 22.6% in April

 

China's exports fell 22.6 per cent in April from a year earlier, while imports fell 23 per cent, the official Xinhua news agency said today, quoting the General Administration of Customs.

The resulting trade surplus for the month was $12.9 billion, compared with $18.56 billion in March and $4.84 billion in February, according to calculations based on the cumulative January-April surplus of $75.43 billion cited by Xinhua.

Economists had expected a $17.4 billion surplus based on an 18 per cent fall in exports and a 22 per cent drop in imports from year-earlier levels.

The trade surplus in April 2008 was $16.7 billion. It hit a record monthly high of $40.1 billion in November 2008. It was the sixth consecutive monthly decline in both exports and imports.

Adjusted for the number of working days in April, Xinhua said exports rose 6.9 per cent from March while imports rose 15.1 per cent.

Reuters