China's export growth slowed to single digits in April, while imports were unchanged as tighter and wider COVID-19 curbs halted factory production, disrupted supply chains and triggered a collapse in domestic demand.
Exports in dollar terms grew 3.9% in April from a year earlier, compared with the 14.7% growth reported in March and slightly beating analysts' forecast of 3.2%. The growth was the slowest since June 2020.
Beijing's efforts to curb the country's largest COVID-19 outbreaks in two years have clogged highways and ports, restricted activity in dozens of cities including the commercial hub of Shanghai and forced companies from Apple supplier Foxconn to automakers Toyota and Volkswagen to suspend some operations.
" the downward economic cycle and COVID hit," Shi said. "Life is already hard enough and it happens we've got a leaky roof as it rains." With the national jobless rate at a near two-year high, authorities have promised more help to shore up confidence and ward off further job losses in a politically sensitive year.
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