China Reveals Surge in Exports
Wednesday, April 13, 2011 14:32
China announced an unexpected surge in March exports, which signaled a strong global demand in spite of the Japanese earthquake and high global oil prices.
According to the General Administration of Customs, it is said that China recorded its first trade deficit of $1.02bn ever since 2004 in the first quarter. Analysts said that the first quarter trade deficit reflected domestic economic strength and rising commodity prices.
However, statistics chief with the customs administration–Zheng Yuesheng, informed the state television that the first-quarter deficit was likely to be only “temporary”. And a late surge in exports, which rose 35.8% year on year in March, boosted the trade balance narrowly into positive territory for March with a surplus of $140m.
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