Sunday, April 10, 2011

China reports slight trade surplus in March

.- China recorded a rare trade deficit in the last three months due to the strength of its domestic economy and rising raw material prices in the world, said Sunday the administration of customs. From January to March, imports from China totaled 020 million thousand dollars more than its exports, marking its first quarterly trade deficit since 2004, said the General Administration of Customs.

The trade figures show that China's economy is evolving in a more sustainable, less dependent on exports and a major source of growth for the rest of the world, "said Isaac Meng, an economist at BNP Paribas in Beijing. "Even though the rate of change is will appreciate slowly, the high inflation, especially labor costs, they are doing there is a change of balance, and domestic demand is very strong," said Meng.

In March alone, China reported a small surplus of $ 140 million after a deficit of seven thousand 300 million dollars in February. China's exports in March rose 35.8 percent from a year earlier to 152 billion in 1200. But imports also increased 27.3 percent over the previous year to record a total of 152 thousand 100 million dollars.

Rising prices helped boost imports from China. For example, the average prices of imported iron ore, a key resource for Chinese mills, rose 59.5 percent in the first quarter from a year earlier, said the customs administration. Meng said the force of China's exports may decrease. "People are still trying to assess the impact of Japan, so it's not easy to tell whether this pace can be maintained.

It is possible to decrease more in the second quarter," he said. Economists had expected exports to rise 21 percent over the previous year and imports growing 19.5 percent compared to the last 12 months, resulting in a trade deficit of four billion 200 million dollars.

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