Chinese Export growth slows in April Renews growth concern

Chinese exports and imports growth slowed steeply in April due to lower demand from global as well as domestic markets. Exports increased by just 4.9% in April compared to same month last year which is much lower than 8.9% export growth witnessed in last month. At the same time, imports increased by just 0.3% in April compared to same month last year which is also very low compared to 5.3% imports growth in the previous month.


The drop in both exports and imports signifies lower demand from external as well as domestic market. Demand from western developed markets dropped significantly due to current euro zone debt crisis and lower global economic growth. But drop in domestic demand is a new concern for Chinese economy which is expected to affect the GDP growth number as well for the current quarter.