Exports up, China trade in surplus
Figures from April show that China’s exports once again bettered its imports, after it recorded a trade deficit in March.
China’s US$1.7 billion surplus last month followed a US$7.2 billion deficit in March and provided some comfort to economists, many of whom has expected another deficit.
Compared with the same month last year, April’s exports represent a more than 30 percent increase. Imports rose by almost 50 percent.
The surplus fuels speculation that China will soon allow its currency to appreciate against the US dollar, to which is has been pegged since mid-2008.
However, some analysts believe China will adopt a ‘watch and wait’ approach with regard to the Greek debt crisis and the possible euro fallout from that.