China’s export sector showed strong resilience last month, with the total value of outbound shipments hitting a monthly record even as the Strait of Hormuz crisis showed little sign of abating after driving up energy and shipping costs.
The value of China’s exports rose in April by 14.1 per cent, year on year, to US$359.44 billion, according to data released by the General Administration of Customs on Saturday. The reading was above the 6.96 per cent growth forecast compiled by financial data provider Wind.
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Meanwhile, the value of imports grew by 25.3 per cent last month to US$274.62 billion, exceeding the Wind poll’s 13.86 per cent growth projection.
The trade surplus stood at US$84.82 billion last month, compared to US$51.1 billion in March.
While China’s import growth softened in April due to a high base effect, its outbound shipments maintained robust momentum as Beijing prepares for US President Donald Trump’s high-stakes visit next week.
China’s exports to the United States increased in April by 11.31 per cent by value, year on year, while shipments to members of the Association of Southeast Asian Nations – China’s largest trading partner – rose 15.22 per cent.
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