China’s trade surplus in the month of April has been announced as $11.4bn despite analysts predicting a figure in the range of $3bn.
New York, NY, May 12, 2011 — The figures show that the exports from China are far surpassing the imported goods, with figures including a 29.9% growth in exports from April last year. Data shows that import growth has slowed down to 21.8% despite being higher in the months of June and September in 2010.
The reason behind the increasingly slower import figures is due to the tightening measures put in place with regards to the property and banking sectors. Equities in Asia have risen slightly after the announcement of the trade surplus, whereas oil is down marginally.
The previous month figures showed that China’s surplus was $140m which was also an unexpected outcome for the analysts. Currently the United States are in talks with China regarding trade relations, and this news is likely to become an issue between the two countries.
The Chinese government put in place the exchange rate on Tuesday. The currency known as renmenbi or more notably yuan, has risen 5% against the US dollar after being de-pegged from it in the month of June last year. Businesses and individuals can keep track of the exchange rate using an online currency converter.
China announced a trade deficit of $1.02bn which had occurred in the first three months of the year, however, there are suggestions that the government are planning to enhance domestic demand therefore rebalancing the economy which may then cut down on the trade surplus of the year.
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