Exports jumped 32.3% from April 2020, which adds to China’s economic recovery this year, analysts say.
China expanded its impressive trade in April, exporting unexpectedly and importing it for a decade, boosting the world’s second-largest economy.
The economic downturn in the United States and the ban on manufacturing in other countries affected by coronavirus have boosted the demand for Chinese products, researchers say.
Exports of the dollar price rose 32.3% from a year earlier to $ 263.92bn, China General Administration of Customs said on Friday, beating expert predictions of 24.1% and a 30.6% increase reported in March.
“China’s growth in exports has been surprising in the future,” said Zhiwei Zhang, chief financial officer at Pinpoint Asset Management, adding that two factors – the growing American economy and the COVID-19 crisis in India, which make some immigration laws in China – probably contributed to the Great Export growth.
“We expect China’s foreign growth to remain strong until the second half of this year, as the two items mentioned will continue to appeal to Chinese manufacturers. Exporting will be a key pillar in China this year.”
These numbers helped control the yuan and stocks in China and other Asian markets.
Exports were also positive, rising by 43.1% from last year, the fastest profit since January 2011 and taking up from 38.1% growth in March. It was also slightly faster than the 42.5% rise that occurred as a result of a study by the Reuters news agency, encouraged by the high prices.
But Zhang Yi, an economist at Zhonghai Shengrong Capital Management, said it remains to be seen whether strong foreign growth, driven by rising prices, could continue as China provides financial assistance.
“We need to realize that annual and annual growth is due in part to the worst growth of the previous year. Growth in just two years was about 10 percent, which is not very strong.”
In fact, the volume of goods for other commodities has begun to decline. China’s steel exports fell 3.5 percent in April from a month earlier, while copper exports fell by 12.2% per month.
China’s $ 42.85bn trade deficit was larger than the $ 28.1bn surplus provided for Reuters polls.
However, researchers still expect China’s economy to shrink from 18.3 percent in January-March growth as the COVID-19 epidemic disrupts global chains, reducing shipping costs and paying shipping costs.
“While people are pushing for ideas and support, the shortcomings in the mix include global arms shortages, shipwrecks, lack of containers, and rising prices are expected to continue for some time,” said Christina Zhu, Economist at Moody’s Analytics. letter Thursday.
The shortage of semiconductors required for a wide range of applications including electronics and automobiles is also starting to hurt manufacturers, weighing on production.
Etelec electronics manufacturer Zhengshan, an electronics manufacturer, has stopped importing new products since April 26, due to a lack of integrated circuits, the company announced in a statement from Reuters.
China’s procurement management plan last week showed that factory growth has slowed in April since a month earlier when complex manufacturing facilities began to be built.