China’s Shrinking Imports, Slower Exports Growth Darken Economic Outlook

Containers and cargo vessels at the Qingdao port in Shandong province, China, on May 9, 2022. China Daily via Reuters

BEIJING—China’s imports contracted sharply in April, while exports rose at a slower pace, reinforcing signs of feeble domestic demand despite the lifting of COVID-19 curbs and heaping pressure on an economy already struggling in the face of cooling global growth.

China’s economy grew faster than expected in the first quarter thanks to robust services consumption, but factory output has lagged and the latest trade numbers point to a long road to regaining the pre-pandemic momentum at home.