China’s trade surged in April as overseas demand heats up
Trade in China extended its impressive performance with exports accelerating and import growth hitting a decade high in April. Stalled factory production in other countries hit by coronavirus have increased demand for goods made in China. Exports surged 32.2% in terms of dollars from a year earlier. 30.6 percent growth was reported in March,
Exports are expected to be a pillar of growth in China this year with shifting focus to Chinese markets due to the growth in the US economy and COVID-19 crisis in India.The growth has driven up the yuan and stocks in China and Asian markets. Imports in China also increased 43.1 percent from last year, but some import volumes for specific products are levelling off. The fast year-on-year growth of imports can be partly attributed to negative growth from a year ago, with the two year average being 10% growth.