China’s trade growth rebounded in May after anti-virus restrictions that shut down Shanghai and other industrial centers began to ease. Exports surged 16.9 per cent over a year ago to USD 308.3 billion, up from April’s 3.7 per cent growth, a customs agency statement said Thursday. Imports rose 4.1 per cent to USD 229.5 billion, accelerating from the previous month’s 0.7 per cent.
China’s trade has been dampened by weak global demand for its exports and curbs imposed to fight coronavirus outbreaks in Shanghai, site of the world’s busiest port, and other cities. Consumer demand for imports is weak after millions of families were confined to their homes, sometimes for many weeks.
Most factories, shops and other businesses in Shanghai, Beijing and other cities have been allowed to reopen but may need weeks or months to return to normal activity levels.