China exports rise 0.9 percent; imports up 0.8 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

Beijing, China (4E) – Chinese exports surprisingly climbed in April from the previous year, a sign of improvement for the world’s second-largest economy.

Exports grew slightly by 0.9 percent and it comes amid concerns of slowing economic growth in China. Export growth is a boost for China as goods sold abroad account for a large percentage of the country’s economic growth.

In January to April, exports to the U.S. edged higher by 4.1 percent compared with the same four-month period a year ago. Shipments to Southeast Asia increased 5.9 percent and those to the European Union jumped 7.8 percent. Exports declined 9.7 percent to Taiwan and 31.3 percent to Hong Kong.

The result comes after a 6.6 percent drop in March, compared with the previous year. Imports climbed 0.8 percent in April, after falling 11.3 percent in March, compared with the previous year.

The Chinese economy expanded 7.4 percent from a previous year, prompting several economists to say the country may miss its 7.5 percent growth target for 2014. China’s economy grew 7.7 percent in 2013.

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