Despite the war in Ukraine and the Omicron wave, Chinese exports increased significantly in March. Exports grew 14.7 percent year-on-year, according to official data released on Wednesday. Economists polled by Reuters had only expected an increase of 13 percent. On the other hand, imports shrank surprisingly, albeit only slightly by 0.1 percent. That was the first decline since August 2020, following growth of 15.5 percent in the first two months of the year. Analysts had expected an increase of eight percent. The drop in imports points to weaker domestic demand, which in turn points to the strongest corona wave in China since the pandemic began more than two years ago.
Despite crises – China surprises with export growth – Economy
