October data highlights rising role in global trade during Covid-19
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.
Exports from the world’s second-biggest economy beat analysts’ expectations to rise 11.4 per cent year-on-year during the month, official data showed on Saturday, the strongest growth rate since March 2019. That compares to a 9.9 per cent 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.
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 per cent year-on-year in the third quarter.