Chinese exports grew 8.5% in April, customs data showed yesterday, displaying unexpected strength despite weakening global demand.
Exports grew to $295.4 billion compared with a year earlier, although at a slower pace, building on momentum seen in the March data when exports rose 14.8%.
But imports shrank at a faster pace, with the total slumping 7.9% to $205.2 billion compared to the same time last year, according to data Tuesday from the General Administration of Customs. It was down 1.4% in March. Trade with the U.S. and European Union showed a contraction in comparison with last year.
China’s trade surplus in April widened, growing 82.3% compared to the same period last year.
In the first four months of the year, exports edged up 2.5% over the same period of 2022 to $1.12 trillion, the General Administration of Customs of China reported. Total imports contracted 7.3% to $822 billion.
Despite that, forecasters say exports should weaken this year.
Citing the slower pace of expansion for export data compared to last month, analysts said the 8.5% figure may not reflect a real uptick in exports.
