China's foreign trade surprised observers in April with a significant increase in both exports and imports, despite the Iran conflict and the strain on the global economy.
According to the customs authority in Beijing, the value of exports, calculated in US dollars, rose by 14.1% compared to the same month last year. Imports, meanwhile, rose by 25.3%. The bottom line was a trade surplus of $84.82 billion.
Analysts had previously forecast export growth of 6.5%, following a 2.5% increase the previous month. For imports, experts had expected an increase of 20.4%.
The release of China’s latest trade data comes just ahead of US President Donald Trump’s planned visit to Beijing next week.
One year after the escalation of the trade conflict with Washington, China’s exports to the US rose by 11.3% in April. Imports from the US increased by 9%. China’s exports to Germany rose by 7.6% year-over-year, while imports from Germany increased by 1%.
