China's exports rose in April on the back of increased demand from countries around the world in various states of recovery from the coronavirus pandemic, trade data released Friday revealed.
Over the first four months of 2021, China's trade with the U.S. rose more than 50% year on year to $222.8 billion, according to information published by China's customs agency.
U.S. dollar-denominated exports rose 32.3% to $42.1 billion in the month of April alone compared with the same time last year, making America China's third largest trade partner behind members of the Association of Southeast Asian Nations and the European Union.
"The reason why there is still a big jump for China's exports to the U.S. is the demand on exports of anti-epidemic materials," Chinese state media outlet Global Times wrote Friday.
Trade between the two countries has also benefited from American President Joe Biden's massive fiscal stimulus program designed to kick the economy into gear after months of pandemic-related inertia.
Imports from the U.S. into China also rose 43.1% over the course of the month and 53.3% over the entire four-month period since January, resulting in a 653.8 billion yuan trade surplus.
Likewise, trade between China and Australia recently jumped. Imports of Australian goods in China rose 49% in April to $14.8 billion, while exports also increased by 20%.
"The outlook for Chinese exports is positive," Commonwealth Bank of Australia economist Joseph Capurso wrote in a note Friday.
This comes after months of trade tensions that left millions of liters of Australian wine, once guzzled by consumers in China, refused entry at the Chinese border by customs agents.
Overall, Chinese investment in Australia fell 62% last year.
"While product details are not available, we speculate the surge in commodity prices is behind both the expansion in China's imports from Australia and China's trade deficit with Australia," Capurso added.
China announced Thursday it will be indefinitely suspending activities related to the China-Australia Strategic Economic Dialogue.
This is the first time the diplomatic partnership has been frozen since launching and the news comes on the heels of Australia's exit from a Belt and Road Initiative it joined with China.
