China's exports unexpectedly shrank in April but imports surprised with the...
BEIJING - China’s exports unexpectedly shrank in April but imports surprised with their first increase in five months, painting a mixed picture of the economy as Washington ratchets up pressure on Beijing with threats of more punishing tariffs.
Investors have been hoping that China’s April trade data would add to signs that its economy is beginning to steady, easing worries about cooling global growth.ANZ estimated more than 80 percent of the headline decline was due to a sharp drop in shipments to the United States, while its high-tech exports continued to be weighed down by sluggish global demand for smartphones and other electronic gadgets.
The gain was the first since November, suggesting domestic demand is starting to perk up as Beijing rolls out more stimulus, such as higher spending on roads, railways and ports. Imports of copper, widely used in construction and manufacturing, rose from March, but were down on-year. China had an overall trade surplus of $13.84 billion in April, smaller than forecasts of $35 billion.
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