China’s export growth hits highest level in 19 months

Growth in China’s exports jumped to its highest level in more than a year and a half in October, in the latest sign that the country’s rapid economic recovery from coronavirus is strengthening its role in global trade, reported the Financial Times.

Exports from the world’s second-biggest economy beat analysts’ expectations to rise 11.4% year-on-year during the month, official data showed on Saturday, the strongest growth rate since March 2019. That compares to a 9.9% increase in September, previously the year’s high.

China’s export machine has flourished during the Covid-19 crisis, with growth over recent months supported by international appetite for its medical equipment and electronics products, said the FT. Trade activity has contributed to China’s recovery from the pandemic, at a time when other economies are still grappling with its impact. China’s gross domestic product added 4.9% year-on-year in the third quarter. 

 

Source: https://chinaeconomicreview.com/chinas-export-growth-hits-highest-level-in-19-months/

 

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