Data released on Thursday revealed that Chinese exports increased last month while imports exceeded forecasts, giving the nation’s policymakers a much-needed boost as they work to pull the economy out of a protracted recession.
After a startling 7.5 percent decline in March, overseas shipments rebounded strongly in April, growing 1.5 percent year over year and somewhat above projections in a Bloomberg survey.
In the meantime, imports increased by 8.4%, significantly more than the 4.7 percent predicted by the Bloomberg survey, raising prospects for rising demand in the second-largest economy in the world.
The General Administration of Customs (GAC) in Beijing released the data at a time when officials are fighting to ignite the economy, which has faltered after the nation’s departure from strict Covid control restrictions in late 2022.
China’s debt-ridden real estate industry is still in crisis mode; housing prices have been declining recently, and weak domestic demand has hurt retail sales.
Additionally, the country’s exports are seeing a decline in demand due to the global slowdown.
