China’s exports jump by a third to £190bn while imports climb by 40 per cent
China’s exports surged 32.3 per cent in April compared to the previous year as global demand revived despite the persisting coronavirus pandemic.
Exports rose to £190bn, in line with the previous month’s growth but down from the explosive 60.6 per cent rise in the first two months of 2021, customs data showed earlier today. Imports increased to 43.1 per cent, accelerating from March’s 38.1 per cent expansion.
Exports to the U.S. rose 30.8 per cent over a year ago to $42bn despite a lingering tariff war with Washington, the General Administration of Customs of China reported. Imports of American goods rose 23.5 per cent to $13.9bn.
Trade surplus
China’s global trade surplus narrowed by 5 per cent to $42.8bn, an indication demand is recovering faster in the country than in the rest of the world. Its political volatile surplus with the United States widened by 33.4 per cent to $28.1bn dollars.
Exporters have benefited from the relatively early reopening of China’s economy and demand for masks and other medical supplies while some governments are re-imposing anti-virus curbs that limit business and trade.
Traders are watching for signs of what US President Joe Biden might do about reviving tariff war talks with Beijing.