World News | China’s exports unexpectedly rebounded in March

BEIJING, April 13 (AP) — China’s exports unexpectedly rebounded to growth in March even as demand fell after the U.S. and Europe raised interest rates to curb inflation.

Exports rose 14.8 percent from a year earlier to $315.6 billion, customs data showed on Thursday, recovering from a 6.8 percent contraction in January and February. Imports fell 1.4% to $227.4 billion, but the decline was less than the 10.2% decline in the previous two months.

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China’s politically sensitive global trade surplus widened 82% to $88.2 billion from a year ago.

Exports to the United States, China’s largest export market, and the EU-27 fell.

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China’s General Administration of Customs reported that in the first three months of this year, exports edged up 0.5% to $821.8 billion from the same period in 2022. Total imports contracted 7.1% to $617.1 billion.

Weak trade adds to the complexity of Xi Jinping’s government, which is trying to revive economic growth that slipped to 3% last year, the second-lowest pace since the 1970s. The ruling Communist Party has set a growth target of “around 5%” for this year. (Associated Press)

(This is an unedited and auto-generated story from a Syndicated News feed, the body of content may not have been modified or edited by LatestLY staff)