China’s exports increased in April, while imports fell sharply

Although exports in China continued to increase in April, imports fell more than expected.

According to data from the General Administration of Customs of China, exports fell 8.5 percent to $295.4 billion in April, while imports fell 7.9 percent to $205.2 billion compared with the same period a year earlier. .

Export growth beat financial services service Wind’s expectations of a 6.4 percent rise. After decreasing 6.8 percent in the first two months of the year compared to the same period of the previous year, it increased 14.8 percent in March, above expectations.

The low base brought about by lockdown measures in cities that were home to the country’s large population and key industries in the spring of last year is also estimated to have been effective in increasing exports.

THE TREND TO THE DECREASE OF IMPORTS CONTINUES

On the other hand, the downward trend of imports continued in the first three months of the year. Although imports showed a tendency to recover with a decrease of 1.4 in March after an annual fall of 10.2 percent in the first two months, they again showed a hard landing with 7.9 percent in April.

The decline in imports exceeded Wind’s expectation of a 0.1 percent decline.

In April, exports decreased 6.4 percent and imports 9.7 percent compared to the previous month, while the foreign trade surplus, which was 88.1 billion dollars in March, was 90.2 billion dollars in April. .

Analysts estimate that the poor performance of exports and imports is affected by weak global demand and the fragility of the economic recovery.

The main data on economic activity in the manufacturing sector again showed signs of contraction in April, after the restrictions due to Covid-19 were lifted at the end of last year and the growth registered in the last three months.

The Purchasing Managers’ Index (PMI), announced by China’s National Bureau of Statistics (UIB), declined in both the manufacturing and non-manufacturing sectors in April.

The manufacturing PMI decreased 2.7 points to 49.2, while the non-manufacturing PMI decreased 1.8 points to 56.4.

Values ​​above 50 in the PMI indices indicate an increase in economic activities, and values ​​below indicate a decrease.

EXPORT TO EUROPE INCREASED

In April, China’s exports to the European Union countries increased 3.87 percent, while imports from these countries decreased 0.12 percent.

China’s exports to the US fell 6.5 percent and imports 3.1 percent.

While exports to the Association of Southeast Asian Nations (ASEAN) countries increased by 4.49 percent, imports from these countries decreased by 6.25 percent.

In this period, the country with the largest increase in China’s foreign trade was Russia. Exports to Russia increased by 153.09 percent, while imports from this country increased by 8.06 percent. (AA)