China’s exports and imports fell more steeply than expected in April, the General Administration of Customs said on Tuesday. The new data provides further evidence that the country’s trade prospects and its economic recovery are not yet on solid ground.
Exports were down 22.6% in April (forecast down 18%) on a Y/Y basis to $91.94 billion, after a 17.1% fall in March. Imports were down 23% (forecast down 22%) to $78.8 billion, after a 25.1% drop in March. The trade surplus was $13.14 billion.
Exports in the four months to April totaled $337.42 billion, down 20.5%, and imports went down 28.7% to $261.99 billion over the same period. China’s twelve-month rolling surplus came in at nearly $315 billion, compared with $318.3 billion in the previous month.