China’s imports plummet in March

China exports rise in March, rebounding from slump

China exports rise in March, rebounding from slump

Exports rose 14.2% over a year ago to $198.7 billion, recovering from February's 20.8% contraction, customs data showed Friday.

Despite substantial volume of imports from China, India's import growth from China shrunk from 24 per cent during April-January 2017-18 to minus 5 per cent during the same period in the successive fiscal, said Reddy.

Chinese exports picked up last month, but imports contracted more rapidly than expected amid persistent fears over the strength of the world's second largest economy.

China's imports plummeted in March while exports rose sharply, official data showed today, adding to worries about slowing growth in the world's number two economy amid a United States trade war. "We expect these to stay in the low single digits, as preliminary indicators remain weak", he wrote.

China's exports rebounded from a slump in March and sales to the United States rose despite President Donald Trump's tariff hikes.

Beamish said the steeper March drop in imports year-on-year is not so surprising in the context of the trends painted by the leading indicators.

China's manufacturing sector reflected growth for last month and moved to expansionary mode, with Caixin/Markit Manufacturing purchasing managers' index coming in at an eight-month high of 50.8 points, while the official PMI number was at 50.5 points.

Analysts said the trade standoff between the U.S. and China was a likely factor behind the slowdown. However, they say if this occurs, the Chinese exports of this year will likely be lackluster.

Washington and Beijing have largely agreed on a mechanism to police any trade agreement they reach, including establishing new "enforcement offices," US Secretary of the Treasury Steven Mnuchin said on Wednesday.

The International Monetary Fund trimmed its 2019 global growth forecast this week to 3.3 per cent, while slightly boosting its forecast for China to 6.3 per cent, in part because the Sino-US trade war did not escalate as much as expected. The country's trade surplus - the gap between exports and imports - jumped to $32.6bn (£24.9bn), from $4.1bn in February.

In response, Beijing has announced more spending on roads, railways and ports, along with trillions of yuan of tax cuts to ease pressure on corporate balance sheets and avert a sharper economic slowdown.

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