China’s trade surplus widens sharply

China’s trade surplus for April widened at a pace, as export growth surged while imports grew by a smaller margin.

The surplus of $11.4 billion was declared, compared to $1.68 billion a year earlier and $139 million in March.

Exports for the month grew 29.9% from a year earlier, easing from 35.8% growth in March. Imports expanded 21.8% year-on-year, compared to 27.3% growth in March.

Chinese imports of crude oil expanded 1.7% in April from a year earlier, easing from a 11.9% rise in the first quarter.

Last years’ trade data also showed a volatile turning point in April. At the time, China reported a $1.7 billion surplus, compared to a $7.24 billion shortfall in March, the nation’s first monthly deficit in six years. 

Separately, this Trade Deficit figures could add to pressure on China to more rapidly reform its currency regime amid criticism it’s garnering an unfair advantage in global trade.