Tuesday Nov 5, 2024
Tuesday Nov 5, 2024

China trade surges as global demand recovers

China’s exports surged 32.3% over a year ago in April as global consumer demand strengthened


Nepalnews
2021 May 07, 11:17, BEIJING
A container port on the Yangtze River is seen in an aerial view in Nantong in eastern China's Jiangsu province. China reported that its April imports and exports surged over the same month in 2020 as global demand strengthens. Photo: AP

China’s exports surged 32.3% over a year ago in April as global consumer demand strengthened, while imports rose 43.1%.

Exports rose to $263.9 billion, in line with the previous month’s growth but down from the explosive 60.6% rise in the first two months of 2021, customs data showed Friday. Imports increased to 43.1%, accelerating from March’s 38.1% expansion.

Exports to the United States rose 30.8% over a year ago to $42 billion despite a lingering tariff war with Washington, the General Administration of Customs of China reported. Imports of American goods rose 23.5% to $13.9 billion.

China’s global trade surplus narrowed by 5% to $42.8 billion, an indication demand is recovering faster in China than in the rest of the world. Its political volatile surplus with the United States widened by 33.4% to $28.1 billion.

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 President Joe Biden might do about reviving tariff war talks with Beijing.

Exports global trade china Traders
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