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China trade weakens after cities shut down to fight virus

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KMIZ

By JOE McDONALD
AP Business Writer

BEIJING (AP) — China’s export growth tumbled in April after Shanghai and other major industrial cities were shut down to fight virus outbreaks. Customs data showed exports rose 3.7% over a year earlier to $273.6 billion, down sharply from March’s 15.7% growth. Reflecting weak Chinese demand, imports crept up 0.7% to $222.5 billion, in line with the previous month’s growth below 1%. The data confirmed fears that anti-virus controls shutting down most businesses in Shanghai and other industrial centers may depress trade and activity in autos, electronics and other industries. 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.

Article Topic Follows: AP National Business

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