(REUTERS): China’s imports and exports continued their strong rebound in March in yet another boost to the nation’s economic recovery as global demand picks up amid progress in worldwide COVID-19 vaccination.
According to the survey conducted by Bloomberg, exports grew by 30.6 percent last month from a year earlier to US$241.13 billion, down from the 60.6 percent seen in January and February. This was still the ninth consecutive period of export growth.
Meanwhile, imports grew by 38.1 percent in March from a year earlier to US$227.34 billion, up from the 22.2 percent growth seen in January and February. The data reinforce signs of gathering momentum for China’s economy as it emerges from the COVID-19-led slump.
China posted a trade surplus of $13.8 billion last month, versus analysts expectations for the surplus to rise to $52.05 billion from $37.88 billion in February. Beijing managed to largely bring the COVID-19 pandemic under control much earlier than many countries thanks to stringent anti-virus curbs and lockdowns.
China’s gross domestic product expanded 2.3% last year, the only major economy to post growth in 2020, underpinned by solid demand for goods such as medical and work-from-home equipment.
