China’s exports grew faster than expected in April, as overseas buyers moved quickly to secure supplies amid fears that the conflict involving Iran could drive up global energy and transport costs.
Official customs data released on Saturday showed exports rose by 14.1 per cent year on year in dollar terms, accelerating sharply from growth of 2.5 per cent in March.
Imports remained strong, climbing 25.3 per cent in April, pointing to resilient domestic demand for raw materials and components. As a result, China’s trade surplus widened to 84.8 billion dollars, up from 51.1 billion dollars the previous month.
Economists said the figures suggest exporters benefited from a wave of front‑loaded overseas orders, as companies sought to stockpile goods and parts ahead of potential cost increases linked to instability in the Middle East.
Recent factory surveys showed new export orders reached their highest level in two years, highlighting the strength of demand in recent months. However, analysts cautioned that this momentum may not last.
Despite gross domestic product growth of 5 per cent in the first quarter, prolonged geopolitical tensions and higher energy prices could weaken global demand later in the year, adding pressure to China’s already subdued consumer spending.
Attention is also turning to diplomacy, with U.S. President Donald Trump expected to visit China next week for talks with President Xi Jinping.
The discussions are likely to centre on trade relations, as well as cooperation in agriculture and the aviation sector, at a time when global supply chains remain sensitive to political and economic shocks.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad sayin...
Russia's Defence Ministry said its forces struck two cargo vessels overnight in the Ukrainian Black Sea port o...
Saudi Arabia is opening up to more international travellers as tourism expands beyond religious travel. In Riyadh, historic landmarks stand alongsi...
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the weekend BRICS summit, amid the ongoing U.S.-Iran conflict, joining a host of foreign dignitaries.
Ukrainian forces struck a Russian oil refinery in Siberia and a seaport in Dagestan in the past 24 hours, President Volodymyr Zelenskyy said. He will meet Canadian Prime Minister Mark Carney on Thursday to discuss air defences for Ukraine over winter.
A Russian strike on a gas station in Kyiv has killed two people, the city's Mayor Vitali Klitschko said in a statement on Telegram. In Russia, online marketplace Ozon has suspended operations in Saratov, southwestern Russia, following a drone strike on a warehouse in the region.
Twenty-five years after the September 11 attacks drew the U.S. into Afghanistan, the Taliban is seeking a new relationship with Washington built on diplomacy, investment and trade, despite deep divisions between the former enemies.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment