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China April exports and imports inch up less than expected
In April, China's exports and imports edged up, though missed experts’ expectations. It’s because domestic as well as foreign demand faltered, while commodity prices edged down.
Evidently, China's April exports grew 8% from a year earlier, thus missing experts’ expectations, while imports managed to soar 11.9%, as official data unveiled on Monday.
It left China with a trade surplus of about $38.05 billion for the month, as the General Administration of Customs informed.
Experts surveyed by Reuters had expected April shipments from the world's number one exporter to have added 10.4%. Exports grew 16.4% in March.
Imports were supposed to have soared 18%, having grown 20.3% in March.
China's exports and imports are expected to stabilize and even improve in the nearer future. That’s what the Ministry of Commerce revealed the previous week in its quarterly report on trends in the Chinese foreign trade.
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Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!