MNI BRIEF: China's Apr Exports Still Strong; Imports Catch Up

China's exports grew 8.1% y/y to USD315.69 billion in April following March's 12.4% increase, beating the 2.0% y/y consensus, according to data released by China Customs on Friday.

The month-over-month growth recorded a 0.6% rise following March's strong 46.0% result, which was bolstered by exporters frontrunning tariffs. Imports registered a 0.2% decrease in April, narrowing from the prior month's 4.3% fall and higher than the 5.9% decrease forecasted by the market. 

China’s trade surplus in April hit USD96.2 billion, compared with the consensus of USD94.3 billion, amounting to a surplus of USD368.76 billion in the first four months. Exports to the U.S. have fallen 2.5% in the Jan-Apr period, while imports declined 4.7%. Exports to the EU have risen 4.9% over the same period, while imports were down 9.2%.