China’s trade surplus jumped in April as imports and exports both further decelerated, renewing fears of a harder than expected landing for the world’s second-biggest economy.
Exports grew by just 4.9 per cent from a year ago, compared to 8.9 per cent growth in March. Imports rose 0.3 per cent year-on-year, compared to March’s 5.3 per cent increase, according to official data released on Thursday.
China’s surplus jumped to $18.4bn in April, compared to $5.25bn in March. This was nearly double the amount that Chen Deming, commerce minister, forecast last week at the US-China Strategic and Economic Dialogue.
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