China's import and export growth in April was sharply weaker than expected

According to data from the China Customs Statistics Bureau on Thursday (May 10), China’s import and export growth in April was weak and was significantly lower than expected, which aggravated the market’s concerns about the slowdown in China’s economic growth. In addition, the sluggish import data has also increased concerns about China's domestic demand. Data show that China's exports in April increased by 4.9% year-on-year, less than the expected increase of 8.5%; April imports increased by 0.3% year-on-year, significantly less than the expected 11%. Although China's trade balance in April was a surplus of 18.42 billion US dollars, better than the expected surplus of 8.5 billion US dollars, but this is mostly due to the lack of import growth. The Customs Statistics Bureau said that after adjusting for the seasonal adjustment method, the year-on-year growth rates of China's imports, exports, exports and imports were 6.1%, 7.2% and 4.8%, respectively. According to the statistics of the Customs Bureau, China's exports in April fell by 1.5% month-on-month and imports fell by 9.7%. After seasonal adjustment, China's exports in April increased by 9.4%, and imports increased by 7.3%. According to the Customs Statistics Bureau, in bilateral trade with major trading partners, China and the EU and Japan have weak growth in bilateral trade, and imports and exports in countries such as Russia and Brazil have grown rapidly. Statistics show that in the first four months of this year, bilateral trade between China and the EU increased by only 0.3%; in the same period, bilateral trade with the United States increased by 9.2%; bilateral trade with ASEAN increased by 6.7%; bilateral trade between China and Japan decreased by 1.5%. In addition, China this year The bilateral trade value with Russia and Brazil in the first four months increased by 27.7% and 14.4% respectively.

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