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China’s exports grew 32.3% in April 2021

China‘s exports grew at a year-on-year rate of 32.3% in April, to $ 263.92 billion, reported the General Administration of Customs of that country.

As Chinese foreign sales grow at high rates, this reflects to some extent a greater dynamism in international markets, considering that China is the world’s largest exporter.

Conversely, imports from China grew 43.1% in April, to $ 221.06 billion.

Similarly, this data reflects to a certain degree the behavior of domestic demand in China, which is the second largest economy in the world, behind the United States.

With both results, which include only products, not services, China achieved a surplus in its trade balance of 42.86 billion dollars in the fourth month of the current year.

China’s exports

However, the previous results are temporarily limited in these interpretations, because the basis of comparison is low, due to the greater effects that the Covid-19 pandemic caused a year ago.

Cumulatively, from January to April, China’s exports climbed 44% at an annual rate, to total 973.7 billion dollars.

Regarding imports to April, these were for 815,790 million dollars, 31.9% less compared to the same period of 2020.

China’s economy differs from the economies of most developed countries in many ways, including the degree of government involvement, level of development, growth rate, control of foreign exchange, and resource allocation.

While China’s economy has seen significant growth over the past three decades, growth has been uneven across regions and across various economic sectors.

At the same time, the Chinese government has implemented various measures to encourage economic development and guide resource allocation.

China faces a continued slowdown in economic growth. The annual growth rate of China’s gross domestic product in 2020 was 2.3% compared to 6.1% in 2019, 6.7% in 2018, and 6.9% in 2017.

 

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