The background is the severe restrictions for many companies in China due to the strict Chinese zero-Covid policy, which severely affects freight traffic.
(Photo: dpa)
Beijing Chinese foreign trade slowed down sharply in April. Exports, calculated in US dollars, only grew by 3.9 percent compared to the same month last year, as reported by Chinese customs on Monday in Beijing. It’s the slowest growth in about two years. Imports remained unchanged with zero growth.
The background is the severe restrictions for many companies in China due to the strict Chinese zero-Covid policy, which severely affects freight traffic. According to experts, the crisis surrounding the Russian war of aggression in Ukraine and the recovery of capacities in other countries are also having an effect.
China’s foreign trade faces a “complicated and difficult external environment,” said customs statistics director Li Kuiwen. In March, exports had increased noticeably by 14.7 percent compared to the same period last year, while imports had already fallen by 0.1 percent.
More: China’s corona policy could become the greatest risk for the global economy
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