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China exports improve to 5M peak in March; imports decline

China exports improve to 5M peak in March; imports decline

Mubasher: China’s exports recovered in March, whereas imports extended their decline for the fourth consecutive month at a faster momentum, customs data showed on Friday.

Exports from China climbed 14.2% year-on-year in March, the strongest growth in five months, while imports dropped 7.6%, leaving the world’s second biggest with a trade surplus of $32.64 billion, up from $4.08 billion over January and February, the General Administration of Customs said.

It is worth noting that trade figures for January and February were combined due to the Lunar New Year holiday in February.

This was a big jump in exports from a 20.8% plunge in the first two months of this year, while the fall in imports came milder than a 19.9% over the same two months.

The March data indicated that China’s exports rose 0.9% over the first quarter of this year, while imports fell 4.4%.

Over the three months ended last March, total trade surplus expanded to $76.13 billion, compared with $54.6 billion in the three months ended December 2018.

The politically sensitive Sino-US trade surplus came in at 20.5 billion last month.

By 9:37 am GMT, the Chinese yuan (CNY) rose 0.14% against the US dollar to CNY 6.7102.