China’s April exports lowest in two years as virus bites: customs data

[superadmin]

BEIJING – China’s export growth slumped in April to its lowest level in almost two years, customs data showed today, as a Covid-19 resurgence shuttered factories, sparked transport curbs and caused congestion at key ports.

The data shows the extent of growing damage as the world’s second largest economy confines millions to their homes – particularly in key business hub Shanghai – to stamp out its worst Covid-19 resurgence since the early days of the pandemic.

Beijing has persisted with a strict zero-Covid-19 policy involving lockdowns and mass testing, but the economic costs are mounting as manufacturing hubs and supply chains atrophy under gruelling restrictions.

Export growth plunged to 3.9% on-year last month, the Customs Administration said today.


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