Chinese exports jumped 32.3% in April, beating expectations

BEIJING – Chinese exports increased more than expected in April, with global demand for Chinese products remaining high amid various stages of tackling the coronavirus pandemic.

Exports denominated in US dollars rose 32.3% in April from a year ago, China’s customs agency said on Friday. That beat a growth estimate of 24.1% of analysts polled by Reuters.

Imports rose 43.1% in US dollars, also exceeding growth expectations of 42.5%, according to a Reuters poll.

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

Chinese trade with major partners has increased despite political tensions.

Exports to the United States increased 31% in April from a year ago to reach $ 42.05 billion. Imports from the United States increased 52% to $ 13.94 billion.

Chinese imports from Australia rose 49% in April to $ 14.87 billion, while exports rose 20% to $ 5.25 billion.

Exports to the EU rose 24% to $ 39.92 billion, while imports climbed 43% to $ 26.79 billion.