China’s Trade With the U.S. and Australia Grew in April Despite Tensions



Evelyn Cheng | CNBC

BEIJING — China’s exports surged more than expected in April as global demand for Chinese goods remained elevated amid countries’ varying stages of dealing with the coronavirus pandemic.

U.S. dollar-denominated exports rose 32.3% in April from a year ago, China’s customs agency said Friday. That beat an estimate of 24.1% growth from analysts polled by Reuters.

Imports rose 43.1% in U.S. dollar terms, also topping expectations of 42.5% growth, based on a Reuters poll.

Exports were boosted by demand for electronics and high-tech products, while China bought more integrated circuits amid U.S. sanctions and a global chip shortage.

“The outlook for Chinese exports is positive,” Joseph Capurso, head of international economics at Commonwealth Bank of Australia, said in a note Friday. He expects that Europe and Japan will follow the U.S. economic recovery once vaccination rates pick up.

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