China says exports jump 14.1 pc from a year ago ahead of Trump-Xi summit

China’s exports surged 14.1 per cent in April compared with a year earlier, official data showed on Saturday, defying concerns over the Iran war and the lingering effects of higher US tariffs.

The figures were released just days before a planned summit in Beijing next week between US President Donald Trump and Chinese President Xi Jinping.

The export growth far exceeded analysts’ expectations and marked a sharp acceleration from March’s 2.5 per cent year-on-year rise. Imports also climbed strongly, rising 25.3 per cent in April, compared with 27.8 per cent growth recorded in March.

The Trump-Xi meeting comes at a time when ties between Washington and Beijing remain strained on several fronts, although diplomatic efforts linked to the Iran conflict have temporarily overshadowed traditional flashpoints in the relationship.

“We're expecting that overall external demand will remain a solid driver of growth this year,” said Lynn Song, chief economist for Greater China at Dutch bank ING. He said exports of semiconductors and automobiles were likely to continue leading China’s growth momentum.

In March, Chinese policymakers set an annual economic growth target of between 4.5 per cent and 5 per cent — slightly below last year’s 5 per cent expansion and the country’s lowest target since 1991.

Export growth is expected to remain a key pillar of the broader economy, especially after Chinese shipments to Europe, Southeast Asia, Latin America and Africa expanded significantly in recent months.

Alongside discussions on ending the Iran war, trade disputes and export controls — including restrictions involving rare earth minerals and US technology curbs on China — are expected to feature prominently during the Trump-Xi summit.

The meeting follows a year-long US-China trade truce reached late last year when the two leaders last met in South Korea.

Economists at HSBC said in a recent research note that major breakthroughs on export controls were unlikely, though the talks could still produce “incremental” progress in easing trade tensions.

“On balance, China looks to have more leverage,” wrote Leah Fahy, senior China economist at Capital Economics. “But higher tariffs haven't stopped China's exports from continuing to surge over the past year, and Beijing has showed that it is prepared to wait out US pressure.”

Analysts also pointed to rising energy costs linked to the Iran conflict as a growing concern for Chinese manufacturers.

Wei Li, head of multi-asset investments at BNP Paribas Securities China, said higher oil and fuel prices were increasing production and logistics costs across China’s industrial sector, while elevated global inflation could weaken consumer demand in overseas markets.

Even so, China’s economy has remained comparatively resilient, supported by large strategic oil reserves and a more diversified energy mix than many other countries.

With AP/PTI inputs