Thursday, June 8, 2023

Chinese foreign trade grew 5.8% year-on-year in April

The yuan-denominated value of trade between China and the rest of the world increased a 5.8% YoY in April, according to official data published today by the General Administration of Customs of the Asian country.

Specifically, the exports increased by 10.6% compared to the same month of the previous year, while the imports they did the same in 0.02%.

In the fourth month of 2023, the exchanges with other countries they totaled about 3.43 trillion yuan (US$495.370 million/ €450.763 million).

So the surplus Chinese trade closed April at around 2.02 trillion yuan (US$291.734 million/ €265.464 million), an increase of 56.7% compared to that registered a year ago.

In March, trade between China and the rest of the world had increased by 15.5% year-on-year, with exports increasing by 23.4% and with imports doing the same by 6.1%.

Customs also made public today the data denominated in foreign trade dollars, which usually differ from those disclosed in the Chinese currency due to the fluctuations of exchange rates.

In the us currencytrade between China and the rest of the world increased by 1.1% in April, with exports (+8.5%) performing much better than imports (-7.9%).

In any case, the data in dollars differed from analysts’ forecasts, which predicted a 9% year-on-year increase in exports and a 1.1% growth in imports.


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