US exports rise 32.3pc, beating 24.1pc April estimate

US exports rose 32

16 May 2021 - 19:00
US exports rose 32.3 per cent April from a year, beating an estimate of 24.1 per cent growth, reports Hellenic Shipping News Worldwide.

US imports rose 43.1 per cent, topping expectations of 42.5 per cent growth. Meanwhile, Chinese exports to EU rose 24 per cent to US$39.92 billion and imports climbed 43pc to $26.79 billion.

In April, exports to the US increased 31 per cent from a year ago to $42.05 billion, and imports increased 52 per cent to $13.94 billion.

Chinese imports from Australia rose 49 per cent in April to $14.87 billion, and exports rose 20 per cent to $5.25 billion.

'The outlook for Chinese exports is positive,' said Commonwealth Bank of Australia international economics head Joseph Capurso.

The trade between China and major partners grew despite political tensions. China and Australia tensions soured after Beijing suspended a high-level economic dialogue between the two.

'The recovery in US-China trade has reversed much of the trade war slump, even though few restrictions on trade have been removed,' said Mr Capurso.

'While product details are not available, we speculate the surge in commodity prices is behind both the expansion in China's imports from Australia and China trade deficit with Australia,' Mr Capurso.

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