|Published : 13 Apr 2017, 17:13:03|
Faster growth of exports restores China’s trade surplus
China’s exports grew 16.4 per cent year on year in dollar terms in March, a report in the global media said.
The report, quoting the quarterly trade figures released on Thursday by China’s General Administration of Customs (GAC), showed the dollar value of China’s exports grew faster than expected in March. However, import growth moderated from a February spike, it added.
A trade surplus was restored in March after the first deficit since early 2014 was witnessed in February this year.
China’s Imports rose 20.3 per cent year-on-year in dollar terms, against February’s 38.1 per cent, it said.
The reported added: The renminbi weakened 0.3 per cent against the greenback over the course of March to Rmb6.8872 per dollar.
The impact of this softening was evident from renminbi-denominated growth figures, which saw exports up 22 per cent and imports up 26.3 per cent from a year earlier, leading to a surplus of Rmb164.3bn for the month, according to the report.