China's April Trade Growth Resilient Despite Hormuz Crisis Impacting Costs
China's export growth remained strong in April, increasing by 14.1% year-on-year, despite rising energy and shipping costs attributed to the Strait of Hormuz crisis.
China’s export sector showed resilience last month, even as the Strait of Hormuz crisis showed little sign of abating after driving up energy and shipping costs. The value of China’s exports rose in April by 14.1 per cent, year on year, to US$359.44 billion, according to data released by the General Administration of Customs on Saturday. The reading was above the 6.96 per cent growth forecast compiled by financial data provider Wind. Meanwhile, the value of imports grew by 25.3 per cent last...