China records $18.2b trade surplus in April

BEIJING (AFP) ― China recorded an $18.2 billion trade surplus in April, China Customs authorities said Wednesday, ahead of expectations and reversing a rare deficit in March.

April imports to the world’s second-largest economy increased 16.8 percent year-on-year to $168.9 billion, Customs said in a statement, while exports rose 14.7 percent to $187.1 billion.

The monthly surplus came after the country posted a rare deficit of $880 million in March and was higher than the median forecast of $15.6 billion in a poll of 12 economists by Dow Jones Newswires.

For the first four months of the year, China had a trade surplus of $61.0 billion, Customs said.

Statistics have painted a mixed picture for the Chinese economy in recent months.

China grew at its slowest pace in 13 years in 2012, with gross domestic product expanding 7.8 percent in the face of weakness at home and in key overseas markets.

There was a rebound to 7.9 percent in the final quarter of 2012, raising hopes of recovery, but in the first three months of this year growth slowed to 7.7 percent.

China’s total trade grew just 6.2 percent last year, well below the official target of about 10 percent.

The government has set a growth goal of eight percent for two-way trade this year. Customs said total trade increased by 14 percent year-on-year to $1.33 trillion in the January-April period.