{"id":120922,"date":"2021-04-13T04:53:35","date_gmt":"2021-04-13T04:53:35","guid":{"rendered":"https:\/\/precoinnews.com\/?p=120922"},"modified":"2021-04-13T04:53:35","modified_gmt":"2021-04-13T04:53:35","slug":"china-exports-rise-at-robust-pace-in-march-imports-growth-highest-in-four-years","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/china-exports-rise-at-robust-pace-in-march-imports-growth-highest-in-four-years\/","title":{"rendered":"China exports rise at robust pace in March, imports growth highest in four years"},"content":{"rendered":"
BEIJING (Reuters) – China\u2019s exports grew at a robust pace in March in yet another boost to the nation\u2019s economic recovery as global demand picks up amid progress in worldwide COVID-19 vaccination, while import growth surged to the highest in four years.<\/p> The data reinforces signs of gathering momentum for the world\u2019s second largest economy as it emerges from the COVID-19-led slump in early 2020.<\/p>\n Exports in dollar terms soared 30.6% in March from a year earlier, but at a slower pace from a record 154.9% growth in February. The analysts polled by Reuters have forecast a 35.5% jump in shipments.<\/p>\n Imports increased 38.1% year-on-year last month, the highest since February 2017, beating a 23.3% forecast and compared with 17.3% growth in February.<\/p>\n China posted a trade surplus of $13.8 billion last month, versus analysts expectations for the surplus to rise to $52.05 billion from $37.88 billion in February.<\/p>\n Despite sporadic COVID-19 cases in China\u2019s border cities, authorities have been able to largely contain the virus in a boost to factory activity as production has gradually picked up to pre-pandemic levels.<\/p>\n Beijing managed to largely bring the COVID-19 pandemic under control much earlier than many countries thanks to stringent anti-virus curbs and lockdowns at the initial phase of the outbreak last year.<\/p>\n Related Coverage<\/p>\n<\/p>\n That has helped its economy mount a rapid turnaround after a slump at the start of 2020, led by resurgent exports growth as factories raced to fill overseas orders.<\/p>\n Global demand for Chinese goods have remained strong as the world economic recovery has continued to gather pace helped in part by stepped up vaccination efforts.<\/p>\n China\u2019s gross domestic product expanded 2.3% last year, the only major economy to post growth in 2020, underpinned by solid demand for goods such as medical and work-from-home equipment.<\/p>\n Still, the massive initial hit from the COVID-19 crisis meant China\u2019s growth in 2020 was still its weakest in 44 years.<\/p>\n This year, China has set a modest growth target of at least 6%, as authorities plotted a careful course out of a year disrupted by COVID-19 and amid heightened tensions with the United States.<\/p>\n China\u2019s trade surplus with the United States slipped to $21.37 billion in March from a $23.01 billion in February.<\/p>\n President Joe Biden said last month that the United States was not seeking confrontation with China over differences on trade.<\/p>\n