China’s export growth tumbled in April after Shanghai and other industrial cities were shut down to fight virus outbreaks.
Exports rose 3.7% over a year earlier to $273.6 billion, down sharply from March’s 15.7% growth, customs data showed Monday. Reflecting weak Chinese demand, imports crept up 0.7% to $222.5 billion, in line with the previous month’s equally weak growth below 1%.
The data confirmed fears the ruling Communist Party's "zero-tolerance” strategy that shut most businesses in Shanghai and other industrial centers would depress trade and activity in autos, electronics and other industries.
Exports to the United States rose 9.5% to $46 billion despite persisting tariff hikes in a fight over Beijing’s technology ambitions. Imports of American goods increased 0.9% to $13.8 billion.
China’s global trade surplus widened by 19.4% to $51.1 billion while the politically volatile surplus with the United States contracted by 65% to $9.8 billion.
