Export decline last month was led by an 8.3 per cent drop in the city’s general trade, and analyst deems Shenzhen’s export performance ‘volatile’ over last four months
China’s top exporting city saw its levels fall in April despite stronger-than-expected national growth, suggesting traders are not yet out of the woods amid tumultuous tariff tensions with the US.
Peng Peng, head of the Guangdong Society of Reform, a think tank affiliated with the provincial government, said Shenzhen’s export performance was “volatile” in the first four months of the year, suggesting that trade remained susceptible to global tensions.
In the first two months of the year, Shenzhen’s exports fell by 16.6 per cent, year on year, before showing signs of a recovery in March with a year-on-year rise of 8.8 per cent.
“As a city with relatively high dependence on foreign trade, Shenzhen’s economy is inevitably facing a degree of unpredictability and limited room for policy manoeuvres,” Peng said.
