China exports up 8.5% in April in unexpected climb

BEIJING — Chinese exports grew 8.5% in April, showing more unexpected strength despite weakening global demand, customs data showed Tuesday.

Exports grew to $295.4 billion compared with a year earlier, although at a slower pace, building on momentum seen in the March data when exports rose 14.8%.

But imports shrank at a faster pace, with the total slumping 7.9% to $205.2 billion compared to the same time last year, according to data Tuesday from the General Administration of Customs. It was down 1.4% in March. Trade with the U.S. and European Union showed a contraction in comparison with last year.

China’s trade surplus in April widened, growing 82.3% compared to the same period last year.

In the first four months of the year, exports edged up 2.5% over the same period of 2022 to $1.12 trillion, the General Administration of Customs of China reported. Total imports contracted 7.3% to $822 billion.

Despite that, forecasters say exports should weaken this year.

Global consumer demand weakened after the Federal Reserve and central banks in Europe and Asia raised interest rates to cool inflation that was near multi-decade highs by reining in business and consumer activity.

Chinese manufacturers say new orders and export orders declined in April from the previous month, according to a survey by the national statistics bureau and the Chinese Federation for Logistics & Purchasing.

The government set this year’s official economic growth target at “around 5%,” up from last year’s 3% expansion, which was the second-weakest since the 1970s. Some economists raised their growth forecasts to closer to 6% following March’s unexpectedly strong trade figures.

Trade also has been dampened by tension with Washington and restrictions on access to U.S. processor chips and other technology in a feud with Beijing over security and Chinese industrial policy. Chinese factories assemble most of the world’s smartphones and other electronics.

Exports to the U.S. were down 6.5% to $43 billion compared with the same period last year, and imports also fell 2.9% to $13.3 billion in April. China’s trade surplus shrank 7% down to $29.7 billion.

Trade with Europe also contracted. Exports to the European Union were down 17.7% in April compared to the same time last year, to $44.7 billion. Imports also contracted, shrinking 38.6% to $23.4 billion. Meanwhile, China’s trade surplus with the EU grew 31.5% to $21.3 billion.

Chinese imports from Asian producers of chips and other…