China imports smash forecasts as exports also rise

9th May 2024 07:49

(Sharecast News) - China's exports rose 1.5% in April, while imports surged 8.4%, beating forecasts, according to data released by the customs agency on Thursday.

Economists had tipped imports to increase 4.8%. The figure also reversed a 1.9% fall in March.

Exports to the US fell 2.8%, while shipments to Russia were 13.56% lower year on year.

"The notable increase in imports suggests potential policy stimulus driving the surge. However, the rise in exports may exacerbate tensions with US leaders contemplating tariff hikes," said Stephen Innes, managing partner at SPI Asset Management.

Reporting by Frank Prenesti for Sharecast.com