Photo: Gabyu on flickr
China released its latest trade figures, the key take-away is that the nation’s trade surplus is down 78.6% year to date… but there’s still a surplus.Despite March’s trade deficit, the nation flipped back to a trade surplus in April.
China posted a trade surplus of 1.68 billion U.S. dollars in April, down 87 per cent from a year earlier, the General Administration of Customs (GAC) said on Monday.
According to the GAC figures, China’s exports in April totaled 119.92 billion U.S. dollars, up 30.5 per cent from a year ago, while imports totaled 118.24 billion U.S. dollars, up 49.7 per cent year on year. and exports rose 39.4 per cent year on year to 238.16 billion U.S. dollars in April.
Taking the first four months together, China’s imports and exports totaled 855.99 billion U.S. dollars from January to April, up 42.7 per cent from a year earlier.
Trade surplus from January to April plunged 78.6 per cent year on year to 16.11 billion U.S. dollars, showed the GAC figures.
Looking at the year to date figure as of April 2010, year over year, means that one doesn’t have to worry about when the Chinese new year exactly happened or other monthly distortions. Imports are growing more rapidly than export, that’s the key.