Chinas Exports rose sharply in April
China further improved its trade levels in April. Exports have increased and imports have reached their highest point in 10 years.
The US economy recovered, but other countries lost production at factories and increased demand for Chinese-made goods.
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Exports from the world’s second largest economy, up 32.3% from the previous year, to $263.92 billion from the previous year, with an analyst estimate of 24.1% and analysts’ estimate of 24.1% and March This surpasses the 30.6% growth seen in the
“China’s export growth was once again surprising,” said Zhiwei Zhang, chief economist at PinPoint Asset Management, two factors — India’s booming US economy and the Covid-19 crisis. He added that it is likely that he contributed to China. For strong export growth.
“We expect China’s export growth to continue to be strong later this year as the two factors above are likely to continue to support Chinese manufacturers. Exports are important for China’s growth this year. It will become a pillar.”
This figure helped push the yuan and stocks of China and nearby Asian markets.
Imports were also strong, up 43.1% from the previous year, rising from the most significant profit since January 2011 and the 38.1% growth seen in March. It also slightly surpassed the 42.5% rise that was leaning in Reuters polls.
However, Zhang Yi, chief economist at Zhonghai Shengrong Capital Management, said it is unclear whether strong import growth will be maintained, mainly as China ends its fiscal policy support. Ta.
“It should be noted that today’s rapid year-over-year growth is primarily due to negative growth a year ago. The average growth rate over the two years was around 10%, but not very strong. .”
In fact, import volumes for some products are beginning to level out. China’s iron ore imports fell 3.5% in April from the previous month, while copper imports fell 12.2% that month.
