The trade surplus of China increased to $28.1 billion to $22.8 billion in April. However, the growth rate of exports and imports show a setback. Exports grew 4.9% from a year ago in April, down from an 8.9% pace in March. Exports of China rose nearly 21% in 2011 and moved up 14.3% in the fourth quarter of 2011 on a year-to-year basis.

The decelerating trend of exports reflects soft economic conditions among China’s trading partners. Imports of China have screeched to a halt. Imports rose 0.3% from a year ago in April. On a month-to-month basis, imports fell 7.4% in April, which is the third monthly drop in the first four months of the year. Imports posted a nearly 25% increase in 2011. These numbers place expectations of soft landing of the Chinese economy on shaky ground.

Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com

Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.

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