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 Verfasst am: 06. Mai 2022 09:41 Titel: China's trade seen faltering in April as COVID curbs hit out |
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China's trade seen faltering in April as COVID curbs hit output
China's export growth is expected to have slowed to a crawl in April as strict COVID-19 curbs hit production while imports likely extended declines, creating heavy headwinds for the world's second-largest economy in the second quarter.
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The trade sector, which accounts for about a third of gross domestic product and employed 180 million people in 2020, is losing momentum as widening anti-virus curbs ensnared supply chains.
Exports likely grew 3.2 per cent from a year earlier, according to a median forecast in a Reuters poll of 18 economists, slowing sharply from a 14.7 per cent gain in March. The forecast is the slowest growth since June 2020.
The uncertainty over the Ukraine war and recovering production capacity overseas also squeezed China's share of global trade. The new export orders component of the official manufacturing purchasing managers' index hit a two-year low in April.
Imports were expected to have fallen 3 per cent year-on-year in April, the poll showed, worsening from a 0.1 per cent fall in March and marking the steepest decline since May 2020.
Sixteen economists in the poll forecast a $50.65 billion trade surplus in April, wider than the $47.38 billion in March, mostly due to the decline in imports.
The trade data will be released on Monday. |
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