China''s trade
surplus has recovered from its surprising fall in March with an excess of exports
over imports of $16.9 billion in April from $6.9 billion in the previous month.
The US has charged
China in the past of keeping its currency artificially low to keep the cost of
its exports low, which denies American companies a level playing field. The rebound
of the trade surplus is expected to revive charges about the weakness of the yuan,
ahead of scheduled economic negotiations between Chinese and US officials on 22
May. "The
trade figure show that the abrupt slowdown in March was a result of some temporary
factors," said Li Huiyong, an analyst at Shenyin & Wanguo Securities.
"The general
trend of rapid surplus growth has not changed at all," he added. China
has been criticised by some in the US that Beijing is keeping its currency artificially
weak to give its exporters an unfair advantage. The
yuan is at its highest rate since its pegging to the dollar was abandoned in July
2005 in favour of a system of managed bands. The
Chinese central bank says it is also keen to reduce the trade surplus but said
on Thursday that it planned to do that by increasing imports rather than strengthening
the currency. Oil
prices widen US trade deficit The
trade gap grew 10.6% compared with February to $63.9bn, according to figures from
the Commerce Department. Import
price figures for April were also released, showing a larger-than-expected 1.3%
rise. Higher
oil and petrol prices were also been blamed for the rise in the import price figure
from the Labor Department. Record
imports of food, beverages, animal feed and consumer goods also helped to widen
the overall trade gap. But
the US trade deficit with China narrowed by 6.4% to $17.2bn with exports from
that country falling to their lowest level for almost
a year. The
weak dollar was good news for exporters, and sales to Canada and the European
Union hit record levels. Despite
the large deficit in March, the trade deficit for the first three months of the
year was $180.7bn, 5.7% below the figure for the first quarter of 2006.
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