China's exports resurge in April, pointing to positive momentum in external demand
(MENAFN) According to Chinese customs data released on Thursday, China's exports experienced a resurgence in April following a sharp contraction in March, signaling a potential improvement in external demand that Beijing policymakers are optimistic will persist throughout the year. Last month, exports recorded a growth of 1.5 percent year-on-year, aligning with the anticipated increase as forecasted by economists in a Reuters poll. This rebound comes after a notable 7.5 percent decline in March, marking the first contraction since November of the previous year.
Simultaneously, imports surged in April, registering an 8.4 percent increase, surpassing expectations which predicted a rise of 4.8 percent. This robust performance in imports further underscores a potential strengthening of domestic demand, contributing to the overall economic landscape.
Despite the faster-than-expected growth observed in the first quarter, recent data concerning exports, consumer inflation, producer prices, and bank lending for March have raised concerns regarding the sustainability of this momentum. Additionally, the persistent challenges within the real estate sector continue to pose uncertainties, prompting calls for additional stimulus measures to bolster economic resilience.
In the first three months of the year, both imports and exports recorded a modest 1.5 percent year-on-year growth. However, a series of encouraging economic indicators spanning from January to February, coupled with positive feedback from a survey of factory owners in March, suggest that China's economy, as the world's second-largest, has navigated through early obstacles relatively successfully. This resilience has provided officials with an opportunity to focus on shoring up fragile investor confidence and implementing strategies aimed at revitalizing sustained growth.
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