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China's trade surplus swells again in April
By Wang Yanlin |
May 10, 2011, Tuesday
|
Online Edition
Online Edition
CHINA'S trade returned to a surplus in the first four months but the amount contracted a lot from a year earlier.
The General Administration of Customs today reported a trade surplus of US$10.28 billion through April. It compared with a trade deficit of US$1.02 billion from January to March -- the first quarterly trade deficit in seven years. The amount through April still fell 32.8 percent year on year.
"The rebound from the first-quarter deficit is expected as the conditions have returned to normal," said Alaistair Chan, an economist at the Moody's Analytics. "With China's monetary tightening taking effect, growth of imports may moderate further as fixed asset investment and industrial production lose heat."
In February, China delivered a trade deficit of US$7.3 billion due to business disruption by the Spring Festival. It returned to a monthly surplus of US$140 million in March.
In April alone, China's exports surged 29.9 percent from a year earlier to US$155.6 billion while imports gained 21.8 percent to US$144.2 billion.
Wang Tao, a UBS AG economist, expected the trade deficit to be temporary and the surplus would swell toward the end of the year when Chinese goods are sold around the world ahead of Western holidays. She predicted a US$150 billion surplus for the whole of 2011.
However, Xue Jun, an analyst at the CITIC Securities Co, said China's efforts to balance trade should be recognized. The latest surplus reduction will give China an advantage in the Sino-US Strategic and Economic Dialogue being held in Washington this week.
The General Administration of Customs today reported a trade surplus of US$10.28 billion through April. It compared with a trade deficit of US$1.02 billion from January to March -- the first quarterly trade deficit in seven years. The amount through April still fell 32.8 percent year on year.
"The rebound from the first-quarter deficit is expected as the conditions have returned to normal," said Alaistair Chan, an economist at the Moody's Analytics. "With China's monetary tightening taking effect, growth of imports may moderate further as fixed asset investment and industrial production lose heat."
In February, China delivered a trade deficit of US$7.3 billion due to business disruption by the Spring Festival. It returned to a monthly surplus of US$140 million in March.
In April alone, China's exports surged 29.9 percent from a year earlier to US$155.6 billion while imports gained 21.8 percent to US$144.2 billion.
Wang Tao, a UBS AG economist, expected the trade deficit to be temporary and the surplus would swell toward the end of the year when Chinese goods are sold around the world ahead of Western holidays. She predicted a US$150 billion surplus for the whole of 2011.
However, Xue Jun, an analyst at the CITIC Securities Co, said China's efforts to balance trade should be recognized. The latest surplus reduction will give China an advantage in the Sino-US Strategic and Economic Dialogue being held in Washington this week.
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