China's March exports in surprise surge, boosting stock markets

Beijing

CHINA trade data has surprised on the upside with exports surging in March, yet another sign that the world's second-largest economy may be stabilising. However, analysts warn that China's exporters will still face headwinds this year as the global growth outlook remains weak.

Chinese exports grew 11.5 per cent year on year last month in US dollar-denominated terms, their strongest pace since February and the first increase since June last year; while imports contracted less than previous months. That compares with a 25.4 per cent drop in exports in February. Imports fell by 7.6 per cent in March, compared with a 13.8 per cent drop the previous month. The trade surplus narrowed to US$29.86 billion last month.