Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Chinese Trade Booms in First Quarter on Strong Overseas Demand

Published 13/04/2021, 03:05
Updated 13/04/2021, 03:27
© Bloomberg. The Mitsui O.S.K. Lines Ltd. (MOL) Charisma container ship sails near the Yangshan Deepwater Port in Shanghai, China, on Friday, April 9, 2021.  Photographer: Qilai Shen/Bloomberg

(Bloomberg) -- China’s trade surged in the first quarter, with overseas demand driving a jump in exports and imports also rising.

Exports rose 38.7% in yuan terms in the first quarter to 4.61 trillion yuan ($704 billion), the General Administration of Customs said Tuesday. Imports were up 19.3% to 3.86 trillion yuan, leaving a surplus of 759.3 billion yuan. The government will release trade data for March and dollar-denominated figures later Tuesday.

China is benefiting from stronger global demand as the rollout of vaccines helps to boost world growth. The figures are also skewed by comparisons from a year ago, when the economy was largely shut down to curb the spread of the coronavirus pandemic.

©2021 Bloomberg L.P.

© Bloomberg. The Mitsui O.S.K. Lines Ltd. (MOL) Charisma container ship sails near the Yangshan Deepwater Port in Shanghai, China, on Friday, April 9, 2021.  Photographer: Qilai Shen/Bloomberg

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.