China's goods exports rebounded in April, adding to signs of stabilization in the country's foreign trade amid continued efforts to contain the COVID-19 pandemic.
China's overseas sales grew by 8,2 percent year-on-year in April to 1,41 trillion yuan (198.800 billion U.S. dollars), compared with a drop of 11,4 percent in the first quarter, the General Administration of Customs announced on Thursday (06.05.2020).
During the past month the Imports fell by 10,2 percent reaching 1,09 trillion yuan (153.607 billion dollars), leaving a trade surplus of 318.150 billion yuan.
Foreign trade in goods fell 0,7 percent year-on-year in April and stood at 2,5 trillion yuan, improving from the 6,4 percent contraction recorded in the first quarter.
In the first four months, foreign trade in goods totaled 9,07 trillion yuan, down 4,9 percent year on year.
The recovery in exports shows the strong resilience of the Chinese economy and robust external demand for products made in China, said Zhuang Rui, vice president of the Institute of International Economics at the University of International Trade and Economics.
The country's foreign trade was affected by COVID-19 pneumonia, as factories closed and foreign trade orders fell.
Contrary to the general trend, China's trade with ASEAN and countries along the Belt and Road has maintained stable development.
During the period January-April, the ASEAN remained the largest trading partner China's foreign trade volume increased by 5,7 percent year on year, amounting to 1,35 trillion yuan, accounting for 14,9 percent of China's total foreign trade volume.
Combined trade with Belt and Road countries rose 0,9 percent to 2,76 trillion yuan, accounting for 30,4 percent of the total and achieving a year-on-year growth of 1,7 percentage points.
Meanwhile, the Imports and exports of goods with the European Union, the United States and Japan fell during the period, according to administration data.
Private enterprises were the biggest contributors to China's foreign trade in the first four months of 2020, with volumes up 0,5 percent to 3,92 trillion yuan.
China has implemented a series of policies to help foreign trade companies resume production amid ongoing efforts to contain the COVID-19 pandemic.
The country has launched incentives to reduce costs for these firms and help them obtain low-cost loans, while simplifying administrative procedures at customs to stimulate exports and imports.
China-Europe freight train services have become an important logistics channel to facilitate trade, as air, sea and road transport were affected by the epidemic.
From January to April, a total of 2.920 freight trains operated the China-Europe route, up 24 percent from the same period in 2019, transporting 262.000 TEUs (20-foot units) of cargo, representing a 27 percent year-on-year increase.
As the epidemic has caused great uncertainties for trade, Ni Yuefeng, director of the General Administration of Customs, said China will expand its policy package to combat the effects of COVID-19 and promote the long-term stable development of foreign trade.
Source: Xinhua
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
