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The volume of China's foreign trade has increased, contrary to forecasts of analysts
China's import and export in April 2014 unexpectedly rose in annual terms, which reduced concerns about a slowdown in the growth of the PRC economy, reports Bloomberg.
According to the General Customs Administration of China, exports of goods and services increased in April 2014 by 0,9% in annual terms to $ 188,5 billion, imports - by 0,8% to $ 170,1 billion. Analysts polled by Bloomberg predicted a drop in the first indicator by 3%, the second is on 2,1%.
The positive trade balance surged to $ 18,5 billion in April from $ 7,7 billion in March. Experts predicted a more moderate increase in the indicator - up to $ 16,7 billion.
The growth of exports reduces the likelihood that the government will resort to more large-scale stimulus measures than an increase in railway construction costs and tax breaks, after reducing GDP growth in the previous quarter to a minimum of one and a half years.
Nevertheless, analysts remind that at the beginning of 2013, there were cases of falsification of documents, on the basis of which foreign trade figures are calculated, so that data for the beginning of this year may not quite correctly reflect the current state of affairs. According to RBS economists, April will be the last month when data may be distorted.
The European Union remains the largest foreign trade partner of China: over the 4 month from the beginning of the year, the volume of trade with it amounted to $ 180 billion, an increase of 11,3%. Trade with the United States increased by 5,2% to $ 168 billion.