China's exports rose at the slowest pace in almost two years in April, as many factories in Shanghai and other cities suspended operations or reduced output due to a rise in coronavirus infections. Logistics were also disrupted. Customs authorities said on Monday that exports last month rose 3.9 percent from a year earlier to 273.6 billion dollars. That's the slowest growth since June 2020.
Exports had been picking up due to a recovery in demand from the United States and Europe. Meanwhile, China's imports were almost flat year on year at 222.5 billion dollars. But shipments from Russia soared 56 percent to 8.8 billion dollars. Rising prices of crude oil and natural gas are believed to be behind the jump. China has expressed its intention to continue trading with Moscow, despite harsh sanctions by the West.