Much as with renminbi-based trade, China’s dollar-denominated exports popped higher in March as shipments to major trading partners saw robust growth.
Data released today by the General Administration of Customs showed China’s dollar-denominated exports rose 11.5 per cent year on year in March, beating expectations of 10 per cent growth, while imports fell 7.6 per cent for the period, short of an expected 10.1 per cent drop.
China’s dollar-denominated trade balance was $29.86bn in March, falling sharply from February’s $32.59bn and coming in well below expectations of $34.95bn among economists surveyed.
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