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China’s Exports Jump by 3.9% in April on Easing COVID Restrictions

June 9, 2022 by Forex Winner Leave a Comment

China’s Exports Jump by 3.9% in April on Easing COVID Restrictions

Source: National Bureau of Statistics of China

China’s exports expanded at a double-digit rate in May, surpassing estimates in a positive sign for the economy as factories restarted. CSI 300 Index down -1.05%, CNYUSD up +0.15%

  • Imports rose for the first time in three months, providing economic relief to Chinese policymakers as they try to move out of the supply-side shock that has rocked global trade.
  • Meanwhile, the forecast for China’s exports still points to potential risks from the Ukraine war and surging costs of raw materials.
  • Outbound shipments in May surged 16.9% from a year ago, the fastest expansion since January this year and more than double analysts’ estimates for an 8.0% jump. Exports rose by 3.9% in April.
  • Economic activity contracted sharply in April as the world’s second-largest economy struggled with the worst COVID-19 outbreak beginning in 2020.

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