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Friday, February 23, 2024

China trade surplus widens in April, bigger-than-expected growth

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  • China’s trade surplus surged to $90.21 billion in April 2023 from $49.47 billion in the same period a year earlier, easily beating market forecasts of $71.6 billion.

  • Exports rose by 8.5% y/y, the second straight month of increase, above market consensus of an 8% growth, while imports unexpectedly fell by 7.9% amid weakening domestic demand.

  • Meanwhile, the politically sensitive trade surplus with the United States widened to $29.68 billion in April from $27.6 billion in March. 

  • ETFs: (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE), (CHIX), (CYB).

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