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Chinese Exports Fall 22.6% in April

Exports from mainland China slumped 22.6 percent in April from a year earlier, official statistics showed — a fall that was not only larger than economists had expected but also bigger than that in March, when overseas shipments declined 17.1 percent.
However, there are some bright side too. Investment in real estate, one of the main forms of private-sector investment in China, was up only 4.9% from a year earlier in the January-April period, compared to overall growth of 30.5% in the four-month period. Still, it's an improvement from even weaker growth in previous months, and comes as purchases of housing and other property pick up. The volume of real estate sales jumped 39% from a year earlier in April after 16.4% growth in March, reversing several months of decline.
There are other indicators of improving domestic demand. China's total imports dropped 23% to $78.8 billion in April, little better than March's 25.1% decline. But in volume terms, purchases of key commodities accelerated. China's net imports of crude oil rose 13.7% from a year earlier in April, after a 6.3% drop in March, customs data showed. Imports of iron ore also surged 33% from a year earlier to a fresh monthly record of 57 million metric tons.

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