China’s Trade Surplus Comes in Three Times Larger Than Forecasts

“China reported a trade surplus that was more than three times larger than forecast in April as exports surged to a record, bolstering the U.S. case for faster yuan gains as officials from both nations meet for annual talks in Washington.

The surplus widened to $11.4 billion and exceeded the forecasts of all 27 economists in a Bloomberg News survey. Exports climbed 30 percent to $156 billion while import growth slowed to 22 percent, the customs bureau said today.

The rebound in China’s surplus to its highest this year may add pressure on the world’s biggest exporter and holder of foreign-exchange reserves to address imbalances and reduce inflation through steeper yuan appreciation. U.S. Treasury SecretaryTimothy F. Geithner and Chinese Vice Premier Wang Qishan pledged yesterday to tackle currency conflicts between the world’s biggest economies.”

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