China’s April trade surplus overshoots expectations
10 May 2011
China's trade surplus in April exceeded four times what was expected with exports stripping imports by a wide margin. China's exports were up 29.9 per cent in April against last year even as import growth slowed to 21.8 per cent year on year.
In April the trade surplus was $11.4 billion according to the customs agency against analysts' expectations of around $3 billion.
China reported an unexpected trade surplus at $140 million in March.
The news comes amidst the backdrop pf US-China trade talks that are expected to put the issue of the Chinese currency in the spotlight.
Many in the US, especially exporters, hold the view that the Chinese currency is undervalued, which makes Chinese goods highly competitive in world markets.
According to analysts the today's traded data showed that Chinese exporters continued to benefit from a supportive exchange rate.
