China announces strong trade surplus in March

4 years ago by in China

China’s trade surplus reached $5.35 billion in March, mainly due to faster than expected growth of exports, according to official data.

Exports grew by 8.9 percent, compared to March 2011. Analysts expected an increase of only 7.2 percent.

In the same time, imports grew less than expected, by 5.3 percent compared to the same period of last year. Analysts expected a 9 percent growth, while the official figure for the previous month indicated a nearly 40 percent growth compared to February 2011.

The significant imports growth recorded in February (when exports rose as well, by 18.4 percent) is mainly due to the impact of Lunar New Year holidays, making the March numbers the first of the year unaffected by this factor.

The Chinese government is expecting 10 percent monthly average growth for both imports and exports through the year 2012.