China was widely expected to return to surplus for the full year after running its first monthly deficit in six years in March, but economists generally expected it to remain in deficit for April. In a poll of 11 economists, the median expectation was for a $1.44 billion trade deficit last month.
The figures got a boost from exports, which rose 30.5% from a year earlier, Xinhua said, ahead of expectations for a 29.1% rise, while imports increased 49.7%, behind economists’ expectations for a 52.3% increase.
Xinhua reported April’s surplus was down 87% from the year-earlier figure.
Imports totaled $118.24 billion in April, while exports totaled $119.92 billion.