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China’s April exports bounce back

China’s exports rebounded more strongly than expected in April suggesting a resilient global demand.

China’s April exports rose 12.9 per cent from a year earlier, beating analysts’ forecasts for a 6.3 per cent increase and snapping back from a 2.7 per cent drop in March that economists believe was heavily distorted by seasonal factors.

This growth in exports was led by a 20.7 per cent increase in shipments of high-tech products, led by mobile phone exports. Economists at ANZ believe some Chinese exporters may be accelerating electronics shipments amid the tariff threats.

China’s move to higher-value exports is clear, with shipments of lower-end products like shoes and apparel declining year-on-year, but its strategic tech sector is firmly in the cross hairs of the White House.

China’s April imports also grew strongly, suggesting its domestic demand remains resilient despite rising corporate borrowing costs and cooling property sales. Imports grew 21.5 per cent on-year, beating analysts’ forecast of 16 per cent growth, and accelerating from a 14.4 per cent rise in March.

 

 
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