BEIJING- China’s exports growth likely lost some momentum in April on moderating overseas demand and the fading base effect of the trade slump seen early last year, while higher commodity prices are expected to have kept a brisk pace of imports.
Exports are expected to have risen 24.1 percent in April from a year earlier, according to the median forecast in a Reuters poll of 21 economists, slower than the 30.6 percent jump in March.
The forecast comes amid concerns recent stellar export growth will face short-term challenges as production in other exporting countries disrupted by the coronavirus resumes.
“The continued recovery in global demand that we expect will mostly benefit services rather than world goods trade, which is already above pre-virus levels,” said analysts with Capital Economics. “And China’s share of global exports is likely to drop back as vaccines allow a return to more normal global consumption patterns.” – Reuters
