China’s exports and imports return to growth – MASHAHER

ISLAM GAMAL9 May 2024Last Update :
China’s exports and imports return to growth – MASHAHER


STORY: China’s imports and exports returned to growth in April – after contracting the previous month.

It signals an encouraging upturn in domestic and overseas demand, as Beijing tries to shore up a shaky economy.

The data suggests a slew of support measures may have helped to stabilise both investor and consumer confidence.

But analysts remain skeptical about the sustainability of this trade bounce.

Shipments from China grew 1.5% year-on-year last month by value, in line with expectations…

Having fallen 7.5% in March – the first contraction since November.

Imports for April increased a forecast-beating 8.4%, reversing a 1.9% fall in March.

As the first quarter of the year saw imports and exports rise year-on-year, those weak March figures had led to concerns momentum could be faltering again.

Most commentators say Beijing has a tough job to improve confidence.

Consumer inflation, producer prices and bank lending for March showed the world’s number two economy has vulnerabilities.

Alongside this, a protracted property crisis remains a drag on overall confidence, spurring calls for more policy stimulus.

Beijing has set an economic growth target for 2024 of around 5%, which many analysts say will be a challenge to achieve without much more stimulus.


Source Agencies

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