Chinese imports sharply decreased in April, while exports slowed, official data showed on Tuesday, signaling a decline in demand amid rising interest rates worldwide and heightened geopolitical tensions.
Imports in April fell by 7.9 percent compared to the same month last year, following a 1.4 percent decline in the previous month.
Exports, on the other hand, increased by 8.5 percent, after a 14.8 percent jump in March, the customs administration reported.
The trade balance for April showed a surplus of $90.21 billion, up 2.3 percent from March.
Government officials continuously warn of a difficult and complicated external environment, given the heightened risk of recession in several key Chinese trading partners.
Data also shows that Chinese exports to ASEAN, the trade alliance of Southeast Asian countries, grew in April by only 4.5 percent, after a 35.4 percent surge in March.
Exports to the U.S. decreased by 6.5 percent, while imports fell by about three percent, according to data from the Chinese customs administration.
Chinese coal imports sharply declined after reaching a 15-month high in March, and imports of copper and natural gas also decreased. Many consider copper imports to be an indirect indicator of global economic growth, Reuters notes.
