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Fundamental Forex Analysis

China’s exports, imports to see double-digit declines in April – Reuters poll

According to the latest Reuters poll of 28 economists, a double-digit slump in China’s exports and imports data is expected for April, despite a recovery in March, as the coronavirus pandemic dented global demand.

Key findings

“Shipments out of China are likely to have fallen 15.7% in April from a year earlier, far worse than a 6.6% contraction in March. Exports contracted by 17.2% in the first two months of the year.

Imports, meanwhile, are expected to have shrunk 11.2% from a year earlier, the sharpest drop since July 2016 and versus a 0.9% fall the previous month as domestic demand remained tepid.

The trade surplus for the month was forecast at $6.35 billion, down from $19.9 billion in March.”

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