China’s exports grew at a robust pace in March in yet another boost to the nation’s economic recovery as global demand picks up amid progress in worldwide Covid-19 vaccination, while import growth surged to the highest in four years.
The data suggests the world’s second largest economy will continue to gather momentum as it emerges from the Covid-19-led slump in early 2020, though a lagging consumer rebound, a resurgence in Covid-19 cases in many countries and Sino-US tensions have raised risks for the outlook.
Exports in dollar terms soared 30.6 per cent in March from a year earlier, but at a slower pace from a record 154.9 per cent growth in February. The analysts polled by Reuters have forecast a 35.5 per cent jump in shipments.
“Strong foreign demand is likely to be sustained throughout the second quarter as the global economy further recovers,” said Nie Wen, an economist at Hwabao Trust.
To read the full article by The Irish Times, please click here.