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
Trump will attend the wake of a slain NYPD officer as he goes after Biden over crime
UN secy-general appoints top NDMA official as special representative for disaster risk reduction
Jaishankar meets Malaysian counterpart, discusses ‘multifaceted’ bilateral ties
Baltimore bridge collapse: Entire crew of container ship ‘Indian’
Cargo ship hits Baltimore’s Key Bridge, bringing it down. Rescuers are looking for people in water
MUST WATCH
Latest Additions
Rs 20.14 cr unaccounted cash seized in poll run up in Karnataka
HC grants bail to man held for sexually assaulting ‘friend’ at Mumbai beach in 2021
Congress’s Kolar conundrum remains unsolved despite CM, DCM attempt to quell dissent
Mangaluru: Illegal slaughterhouse raided by police, Three arrested
‘No evidence of wrongdoing’: CBI closes UPA-era Air India aircraft leasing