BEIJING: China’s exports surprisingly shrank in April after a short-lived recovery as fears of an escalating trade war with the
United States clouds the economic outlook for the world’s second largest economy.
Exports fell 2.7 per cent last month compared with the same period in 2018, a sharp reversal from the 14.2 per cent rise in March.
The decline was a surprise, with analysts having expected a 3 per cent increase in exports, according to a Bloomberg survey.
Imports, an indication of domestic demand, rebounded slightly in April by climbing 4 per cent, reversing part of the 7.6 per cent drop in March.
The latest data from China’s General Administration of Customs also showed April’s trade surplus narrowed by US$18.8 billion to
US$13.48 billion overall.
