Chinese Export Figures Were Affected Negatively by the Quarantine Decision

Export growth in China in April was the lowest since June 2020, as Covid-19 measures affected the operation at the ports.

Chinese Export Figures Were Affected Negatively by the Quarantine Decision. With the increase in the number of Covid-19 cases, the quarantine had a significant impact on the Chinese economy. Indicators demonstrated the impact of the lockdown measures. According to foreign trade data for April, the country's exports in dollar terms grew by 3.9 percent compared to the same period of the previous year. Thus, the weakest growth in exports since June 2020 was realized. Economists participating in the Bloomberg survey expected exports to grow by 2.7 percent. The country's exports increased by 14.7 percent in March. Imports, on the other hand, remained unchanged in April. Imports were predicted to fall by 3%, according to economists. Chinese Prime Minister Li Keqiang drew attention to the critical situation of employment in the country as his administration took vigilance to ease the pressure on economic activity from the epidemic measures. In his letter to government departments and regional administrations, Keqiang noted that they should prioritize measures that will help companies create jobs and meet these challenges. Keqiang also called on companies to resume production with Covid-19 measures.