China''s April trade surplus swells to $16.8 billion

Mumbai: China''s trade surplus in April more than doubled from March to $16.88 billion despite a slowing of exports and a rise in imports over the past month, latest customs statistics showed.

The figure, however, was steeply down from the $23,7 billion surplus reported in February this year.

Exports during April stood at $97.45 billion while imports totalled $80.57 billion.

Export growth on an year-on-year basis stood at 28.8 per cent in April against 26.8 per cent, a slight drop of one percentage point from the first quarter while imports at 21.3 per cent was about 3.1 percentage points higher, Xinhua news agency reported.

With this, the aggregate trade surplus for the first four months has reached $63.31 billion, the General Administration Customs said.

China has promised to reduce trade surplus with its major trading partners by importing more goods as its surging trade surplus is triggering trade friction with the US and the EU.

China is expected to replace Germany as the world''s second largest trading country later this year with $2.1 trillion in foreign trade. China''s trade surplus rose to a record $178 billion in 2006, up 74 per cent from a record $102 billion in 2005.

The EU remained China''s top trading partner during January-April, with total trade reaching $103.6 billion, up 29.5 per cent from the same period the previous year. The US was second with a trade volume of $91.87 billion.