Exports from Chinas April to plunging 21%, global expeditions leaps 8.1%

A loading container in shipping China is stacked at the Port de Long Beach in Long Beach, California, April 10, 2025.

Patrick T. Fallon | AFP | Getty images

Chinese exports jumped in April following a leap in expeditions to the Southeast Asian countries, compensating for a sharp drop in outgoing goods in the United States while prohibitive prices have triggered.

Exports jumped 8.1% last month in terms of US dollars compared to the previous year, according to data published by the customs authority on Friday, strongly defeating the reuters survey of an increase of 1.9%.

Imports dropped only 0.2% in April compared to the previous year, compared to the expectations of economists with a decrease of 5.9%.

China's expeditions to the United States plunged more than 21% in April over the year, while imports dropped by almost 14%, according to CNBC calculation of official customs data. Chinese expeditions linked to the United States had increased by 9.1% in March, while exporters rushed to charge orders before tariff hikes.

In the first four months of this year, Chinese exports to the United States dropped by 2.5% while imports dropped by 4.7% compared to the previous year, according to official data.

The sharp increase in global exports could be partly due to transhipment through third countries and contracts that have been signed before the prices announced, said Zhiwei Zhang, president and chief economist of the Pinpoint assets. Zhang expects commercial data gradually weakening in the coming months.

Chinese exports to the Association of Southeast Asian Nations jumped 20.8% in April compared to the previous year, going from growth of 11.6% in March. While Vietnam and Malaysia have remained the main destinations of Chinese exports to the region, Indonesia and Thailand have seen Chinese shipments increase by 37% and 28% over a year, respectively.

Meanwhile, China exports to the European Union increased by 8.3%, while imports dropped by 16.5% over a year. Exports had increased by 10.3%, while imports fell 7.5% in March.

President Donald Trump has placed 145% prices on imports from China, which prompted him to retaliate with 125% prices on American imports. So far, the two parties have sought to blunt the economic impact of three -digit levies by granting exemptions from certain critical products.

The number of container ships in China in the United States had dropped considerably towards the end of April, Raymond Yeung, chief economist from Greater China on Thursday at the Bank of Anz.

Chinese authorities have increased recovery efforts in recent weeks to counter the impact of prices on its economy, with stages including the softening of monetary policy and measures to support companies affected by prices.

The activity of the Chinese factory fell to a hollow of 16 months in April, with a gauge on the new export orders falling to its lowest since December 2022.

Concerns has increased that the repercussions of prices would soon go to the labor market, Goldman Sachs believing that the county could lose 16 million jobs, or 2% of his workforce, involved in the production of goods linked to the United States.

The latest purchase managers index said employment has dropped every month because manufacturers have started production and put workers on paid leave.

Local Chinese governments and large companies have expressed support to help exporters reducing prices to redirect their products to the internal market for sale, a decision that will probably deepen the deflationary pressure in the country.

China should publish its data on consumer inflation and wholesale Saturday, which will probably show sustained deflation. The consumer price index should slide by 0.1% compared to a year ago and the production price index dropped by 2.8%, according to economists interviewed by Reuters.

The CSI 300 reference index fell 0.23% on Friday. The Yuan offshore Chinese was stable at 7.2483 per US dollar.

Investors were following the next meeting between US and Chinese officials in Switzerland during the weekend, who increased the prospects for potential de-escalation in the current trade war.

The planned meeting would mark the first high-level American-Chinese commercial talks since the last tariff climbing in April. American senator Steve Daines met Chinese Prime Minister Li Qiang in Beijing in March.

Although the achievement of a complete agreement is likely to be complex and takes time, a progressive decline in the prices on both sides is possible, although analysts are divided on the rhythm of such a de -escalation.

“The de -escalation of prices, if it materializes, would serve as a major positive for Chinese actions,” said Laura Wang, a strategist for actions at Morgan Stanley, while warning that the negotiation process would be “long, with ups and downs”.

The investment bank projects effective American prices on Chinese products could be reduced by current prohibitive levels to a terminal rate of 45% by the end of the year, while “sustainable resolution remains elusive”.

A multitude of banks from Wall Street had reduced their forecasts for China's economic growth this year to around 4%, citing pains inflicted on prices, which would be a significant deficit for Beijing growth target by around 5%.

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