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08 May 2017, 04:10 | Ignacio Smith
Chinese export, import growth slow in April as rebound cools
Exports rose 8 per cent in dollar terms from a year earlier, the customs administration said today. "They're looking at.probably 6 percent growth this year and because these trade data numbers will vary from month to month, I don't think you have to be too surprised", he told CNBC at the sidelines of the IIF Spring Membership Meeting in Tokyo.
Both were below economists' forecasts.
April's slowdown in imports pushed China's trade surplus from $11.0bn to $38.0bn. China has reported its exports expanded for a second straight month in Apri.
Exports were up 8.0 percent year-on-year to $180 billion, while imports were up 11.9 percent at $142 billion. "Imports will reflect that trend first".
China's large surplus with the USA has been a focus of President Donald Trump, who pressed Chinese President Xi Jinping to help reduce the gap.
China's oil imports dropped from a record as purchases by the country's independent refiners were seen slowing. In the first four months of the year, the trade balance surplus was $103.3 billion.
Shipments to the USA climbed 11.7 per cent, easing from the 19.7 per cent gain the prior month, while exports to the European Union increased 4 per cent.
"The slower-than-expected growth in April's imports partly reflected the impact of tightening regulations on firms' financing costs and growth expectations", said Deng.
Grandware Industrial Co., based in Shanghai, which sells glass tableware to North America, said its export prospects are solid, with sales expected to increase by 10% to 20% this year over 2016 levels.
Mr Trump has urged his...
Beijing China's import growth slowed faster than expected in April, as inbound shipments of commodities such as iron ore and copper weakened, while export growth more than halved, in line with a general cooling in demand for electronic gadgets.
"The moderate decline in exports was partly a result of corrections in the USA economy", said Deng Haiqing, chief economist with JZ Securities, "As the corrections are seasonal, we expect exports to pick up in the long term".
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