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China's exports rise in April as growth steadies
09
May '16
China's exports in yuan-denominated terms rose 4.1 per cent year on year in April, while imports dipped 5.7 per cent, according to figures from the General Administration of Customs (GAC).

That led to a monthly trade surplus of 298 billion yuan ($45.9 billion), up from March's 194.6 billion yuan, the customs data showed, suggesting the economy is steadying amid slowing growth.

The export growth in April was milder than the 18.7 per cent increase in March, while imports fell at a faster pace compared with the 1.7 per cent fall in the previous month.

Foreign trade edged down 0.3 per cent year on year to 1.95 trillion yuan last month and that for the first four months combined slipped 4.4 per cent to 7.17 trillion yuan.

In the January-April period, exports dropped 2.1 per cent year on year while imports went down 7.5 per cent, leading to a trade surplus of 1.11 trillion yuan, widening 16.5 per cent from a year earlier.

The leading index for the country's exports rose 2.2 points to 33.8 in April, with sub-indices for new export orders and managers' confidence both up from March, signaling smaller pressure on export growth in the second quarter, the GAC said.

Exports to the European Union, China's largest trade partner, climbed 1.3 per cent year on year in the first four months, the GAC data showed.

In the same period, exports to the US and the ASEAN, China's second and third largest trade partners, both declined 3.5 per cent.

According to the customs data, imports of iron ore, crude oil and copper posted strong increase in the four months -- up 6.1 percent, 11.8 per cent and 23.1 per cent, respectively. But imports of coal, steel and refined oil fell. (SH)

Fibre2Fashion News Desk – India

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