Investing.com - China's trade balance swung to a surprise surplus in March, as import growth came in below expectations, official data showed on Tuesday.
In a report, the Customs General Administration of China said the nation’s trade balance swung to a surplus of USD5.3 billion in March from a deficit of USD31.5 in the previous month.
Economists had expected the trade deficit to narrow to USD1.3 billion in March.
The report said that exports rose by 8.9% in March from a year earlier, above expectations for a 7.0% increase but slowing significantly from export growth of 18.4% in the same month a year earlier.
Imports rose 5.3% from a year earlier, below expectations for a 9.0% increase and decelerating sharply from imports of 39.6% in March of last year.
Slowing imports suggest some exports slowdown in coming months as well as a domestic slowdown.
Following the release of the data, Asian stock markets were lower. Hong Kong’s Hang Seng Index tumbled 1%, while Japan’s Nikkei 225 Index dipped 0.15%.
In a report, the Customs General Administration of China said the nation’s trade balance swung to a surplus of USD5.3 billion in March from a deficit of USD31.5 in the previous month.
Economists had expected the trade deficit to narrow to USD1.3 billion in March.
The report said that exports rose by 8.9% in March from a year earlier, above expectations for a 7.0% increase but slowing significantly from export growth of 18.4% in the same month a year earlier.
Imports rose 5.3% from a year earlier, below expectations for a 9.0% increase and decelerating sharply from imports of 39.6% in March of last year.
Slowing imports suggest some exports slowdown in coming months as well as a domestic slowdown.
Following the release of the data, Asian stock markets were lower. Hong Kong’s Hang Seng Index tumbled 1%, while Japan’s Nikkei 225 Index dipped 0.15%.