Import fall is worse than expected because the rest of the world entered lock down and production slowed. China's export growth might have picked up the slack, not just due to medical export.2:05 pm: China’s exports unexpectedly rose in April and economist suggests shipments of medical goods could have helped
China’s exports rose 3.5% for the month of April from a year ago, defying the 15.7% decline expected by economists polled by Reuters.
Meanwhile, imports fell 14.2% from a year ago in April, worse than the 11.2% decline that was predicted.
Liu Li-gang, chief economist for China at Citigroup, said before the data release that the country’s medical exports likely rose in April as it shipped goods to the rest of the world that was battling the coronavirus outbreak.
China’s trade surplus for the month of April was $45.34 billion — far better than $6.35 billion economists polled by Reuters had predicted. — Huileng Tan
Related link: 2:05 pm: China’s exports unexpectedly rose in April and economist suggests shipments of medical goods could have helped
