China’s exports saw a significant rise in April, increasing 8.1% from the previous year, according to official data. This surge came despite a sharp decline in shipments to the U.S., where tariffs imposed last month have taken a toll on trade. The export growth exceeded expectations, with analysts forecasting only a 1.9% rise. Meanwhile, imports fell by a modest 0.2%, defying the anticipated 5.9% drop, signaling a mixed trade outlook for China.
Exports to the U.S. dropped by over 21% in April compared to the same month last year, while imports from the U.S. also saw a nearly 14% decline. The drop in shipments to the U.S. was expected after President Donald Trump imposed a 145% tariff on all Chinese goods, which was met with retaliatory tariffs from China on U.S. imports. As a result, the number of Chinese container vessels headed for the U.S. sharply decreased toward the end of April.
One reason for the overall export growth could be transshipment via third countries and contracts signed before the tariffs were introduced, according to Zhiwei Zhang, president of Pinpoint Asset Management. Zhang anticipates a gradual weakening of trade data in the coming months as the effects of tariffs become more pronounced.
China’s exports to Southeast Asia saw a remarkable rise of 20.8% in April compared to the previous year, marking an acceleration from March’s 11.6% growth. Imports from Southeast Asia also grew by 2.5%. Exports to the European Union rose by 8.3%, while imports from the EU fell by 16.5%, highlighting the shifting patterns in China’s trade relationships.
In March, global exports from China had risen by 12.4% year on year, as companies rushed to ship goods before tariffs took effect. However, imports had dropped more than expected, with a 4.3% decrease, reflecting the persistent challenge China faces in boosting domestic demand. Despite efforts to help exporters redirect their sales to the local market, the Chinese government faces the risk of further deflation, which could undermine its economic recovery.
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