The China customs published Trade Balance for April in USD terms, reporting a bigger-than-expected increase in the trade surplus and a surprise jump in the exports data. In USD terms, Trade Balance (USD) came in at +45.34B versus +6.35B expected and +19.93B previous. Exports (YoY): +3.5% vs.-15.7% exp. and -6.6% last. Imports (YoY): -14.2% vs.-11.2% exp. and -1.0% last. (full story)

China reported that its dollar-denominated exports rose but imports fell for the month of April as movement restrictions to contain the coronavirus outbreak eased. Data from the General Administration of Customs released on Thursday showed exports rose 3.5% from a year ago while imports fell 14.2% in the same period. Economists polled by Reuters had expected exports to have fallen 15.7% in April from a year earlier while imports were expected to have fallen 11.2% from a year earlier. In March, China’s exports fell 6.6% from a year ago, while imports slipped 0.9% in the same month. China’s trade surplus for the month ... (full story)

China’s exports returned to growth in April, beating forecasts and suggesting that an expected demand shock from coronavirus containment efforts around the world will come later. Exports rose by 3.5 per cent last month, up from a 6.6 per cent fall in March and much better than the combined minus 17.2 per cent collapse in January and February. April’s return was much better than the expectations of a Bloomberg poll of analysts, which had predicted an 11 per cent shrinkage. Imports fell by 14.2 per cent, worse than Bloomberg’s poll, the median forecast of which was minus 10 per cent. April’s imports were also down from ... (full story)