Exports in China have continued to increase this year. As major countries have escaped from the Covid-19 Pandemic one after another, demand for Chinese products has increased. And China is becoming the biggest beneficiary.
On the 7th, the China Customs Service said China’s exports reached $263.92 billion in April. It is up 32.3% from a year earlier. Revenue rose 43.1 percent to $221.06 billion. Earlier, monthly export and import growth compared to the same period last year. It was 30.6% and 38.1% in March, 60.6% and 22.2% in January and February, respectively.
As a result, exports between January and April this year rose 44.0% from a year earlier to $973.7 billion and imports to $815.79 billion, respectively. This performance also surpassed exports ($744.61 billion) and imports ($655.21 billion) in the January-April period of 2019, before the Covid-19 outbreak.
This increase in exports was interpreted as the main reason for the still growing demand from overseas. They say that Chinese products are needed on a large scale due to production disruptions in the U.S. and Europe during the Covid-19 Pandemic period. Even after they begin to normalize the economy, they are expected to need Chinese products for the time being.
Another positive factor is that imports are increasing significantly due to a recovery in China’s domestic demand.
