China trade weakens after cities shut down to fight virus
PTI, May 9, 2022, 10:08 AM IST
China’s export growth tumbled in April after Shanghai and other industrial cities were shut down to fight virus outbreaks.
Exports rose 3.7 per cent over a year earlier to USD 273.6 billion, down sharply from March’s 15.7 per cent growth, customs data showed Monday. Reflecting weak Chinese demand, imports crept up 0.7 per cent to USD 222.5 billion, in line with the previous month’s equally weak growth below 1 per cent.
The data confirmed fears the ruling Communist Party’s “zero-tolerance” strategy that shut most businesses in Shanghai and other industrial centers would depress trade and activity in autos, electronics and other industries.
Exports to the United States rose 9.5 per cent to USD 46 billion despite persisting tariff hikes in a fight over Beijing’s technology ambitions. Imports of American goods increased 0.9 per cent to USD 13.8 billion.
China’s global trade surplus widened by 19.4 per cent to USD 51.1 billion while the politically volatile surplus with the United States contracted by 65 per cent to USD 9.8 billion.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
China announces new policy measures to protect its exports from Trump’s new tariff threat
Pak government prepares for proposed protest by former PM Imran Khan’s party on Nov 24
Gangster Lawrence Bishnoi’s brother Anmol arrested in US, lodged in Iowa jail
Pakistan to launch comprehensive operation against militants in Balochistan
PM Modi arrives in Brazil to attend G20 Summit on tour’s second leg
MUST WATCH
Latest Additions
Siddaramaiah says confident of winning all three bypolls in Karnataka
Hop on! IT Minister Priyank Kharge checks out Uber Shuttle at Bengaluru Tech Summit
Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’
Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial
AIMPLB to hold its annual general sessions in Bengaluru from November 23
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.