Chinese Exports Grow, Imports Exceed Expectations

Chinese exports experienced growth last month, while imports exceeded expectations, according to data released Thursday. This provides a much-needed boost to the country’s leadership amidst efforts to revive the economy from a prolonged downturn.

In April, overseas shipments expanded by 1.5 percent compared to the previous year, slightly surpassing forecasts. This comes after a surprising 7.5 percent decline in March.

Meanwhile, imports surged by 8.4 percent, well above the estimated 4.7 percent, indicating potential improvement in demand within the world’s second-largest economy.

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These figures from the General Administration of Customs (GAC) in Beijing coincide with ongoing efforts to stimulate economic recovery, which has struggled since the country eased Covid control measures in late 2022.

China grapples with challenges in its debt-heavy property market, marked by declining home prices, and sluggish retail sales due to weak domestic demand. Additionally, a global economic slowdown is dampening demand for Chinese products abroad.

However, Zhiwei Zhang, President and Chief Economist at Pinpoint Asset Management, highlighted that “weak domestic demand led to deflationary pressure, which boosts China’s export competitiveness.” He noted that this could benefit the global economy, particularly amid inflationary pressures faced by many central banks.

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