China reported a decline in exports and imports in April, a reversal of figures the previous month, according to the Financial Times. Data published on Sunday by the General Administration of Customs showed that exports fell 1.8% year on year in US dollar terms. Imports in April slid 10.9% from the same month last year, more than double the consensus forecast for a 5% drop and deepening the previous month’s 7.6 % decline. China had a trade surplus in April of $46bn, versus $34bn a year earlier. First-quarter GDP figures last month suggested the economy was broadly stabilising, growing at an annual rate of 6.7%.
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