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After the global economic slowdown and the China-U.S. trade war had already weakened Chinese commerce in early 2019, the coronavirus outbreak took right over in 2020 and slashed Chinese international trade even more. In July, the world’s biggest trading nation saw some relief when export values grew by 7.2 percent – the largest increase since Christmas 2019 and a spike in March of the same year when Chinese producers went into a flurry to ship out merchandise before the U.S. tariffs hit.
According to CNBC, exports were bolstered by the demand for medical supplies due to the ongoing coronavirus crisis.
July Imports were still 1.4 percent below last year’s level but had last gained almost three percentage points in June.
This chart shows the monthly import and export growth rate for China between 2018 and 2020.
