Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Radio France Internationale
Radio France Internationale

Chinese exports jump 3.5% in April while global trade slumps

The rise in exports from China in April confounded forecasts for a massive drop AFP

Exports of medical instruments and devices rose 11 percent in the first four months from a year ago, according to data from China’s General Administration of Customs, while most other categories contracted.

ING chief economist for Greater China Iris Pang told AFP that China's exports of medical supplies provided a boost as the rest of the world grappled with the pandemic.

Overall, the volume of world trade dropped 1.5 per cent in February compared with the same month last year, according to a widely watched world trade monitor published by the Netherlands Bureau for Economic Policy Analysis quoted by the Financial Times.

Meanwhile, Chinese imports fell 14.2 percent on-year, a steeper drop than last month, according to customs data.

According to analysis by Bloomberg, China's 3.5% rise in exports in dollar and the 14.2% drop in imports still left the country with a trade surplus of $45.3 billion for the month.

ING analyst Pang added that while exports of clothing shrank, sales of textile yarns, fabrics and other products grew, implying they were used to make medical supplies.

Beijing says it has been successful in largely curbing the spread of the virus in the country, and many businesses and factories are now back at work after months of closure.

And Louis Kuijs of Oxford Economics noted that "April shipments may have been boosted by exporters making up for shortfalls in the first quarter due to supply constraints then".

In the January-February period, the height of China's coronavirus outbreak, exports plummeted 17.2 percent.

(with wires)

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.