China Trade Growth Accelerated in April

China's April trade data showed a strong acceleration, with export growth reaching 14.1% and import growth hit 25.3%, both beating consensus. This resulted in a trade surplus of US$84.8 billion as seasonal factors faded.

Key Takeaways

• 1.China's trade growth in April significantly exceeded consensus expectations, with exports rising 14.1% yoy and imports rising 25.3% yoy.
• 2.The trade surplus widened to US$84.8 billion in April, a sharp increase from the US$51.1 billion recorded in March.
• 3.The acceleration in export growth was partly due to the fading of Lunar New Year seasonality effects.

Table of Contents

• Bottom line
• Key numbers
• Main points
• The China Economics Team
• Disclosure Appendix

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