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Import and export substantial improvement in March

  • Author:Dreamy F
  • Source:www.orienthonest.com
  • Release on :2016-04-14
China March foreign trade data released yesterday, exports data surged 18.7% year on year, as for the first time in nine months.

China's import and export improved significantly in March and beat market expectations. After the data release, the Australian dollar rose, LME copper-zinc and other international commodities rose nearly 1%. The rebound in exports is mainly due to improvement in the global economy, the RMB exchange rate fell and the base effect, mainly due to improved import and domestic economy improved commodity prices. Since the Chinese economy to pick up, the overall stability of the global economy, China and the global shift resulted in a trade surplus narrowed, but it is benign, the economy is expected to continue to support the yuan to the good.

Sharp rebound in exports is mainly due to improvement in the global economy, the RMB exchange rate fell and base effect. First, in March some improvement in the global economy, March JPMorgan global manufacturing PMI 50.5, up 0.5 percentage points from February, March BDI index rebounded sharply, PMI new export orders also rose significantly, the global economy and trade show activity has been heating up. Second, because of the weak US dollar, the yuan in March fell against a basket of currencies, in favor of export recovery. Finally, in March 2015 lower (-14.6%) base also export data to support the formation in March.

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