The government announced that China’s imports and exports increased in May after the relaxation of anti-covid restrictions that had caused a significant drop in activity the previous month.
The bad results of April coincided with a curfew in late March in Shanghai, the country’s most populous city and one of the world’s most important ports, which came to a standstill due to restrictions.
Although the curfew on June 1 was not completely, some restrictions were lifted and May allowed some companies to resume production.
In May, China’s exports rose 16.9% year-on-year from +3.9% in April, the worst result since 2020, according to Customs.
Imports also increased by 4.1% year-on-year after the stagnation in the previous month.
With the phasing out of health restrictions, “logistics clearly improved” in the larger region around Shanghai, economist Rajiv Biswas of S&P Global Market Intelligence told AFP.
“Daily container flow at the Shanghai port returned to 95% of normal on May 24,” he said.
China’s trade surplus rose from $51.1 billion in April to $78.76 billion in May.
source: Noticias
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