Export values returned to growth last month after contracting in March, but this was mainly due to a lower base for comparison. Export volumes were little changed in April following a pullback in the previous month. We think export volumes will retreat over the coming months due to cooling consumer spending in advanced economies and the diminishing tailwind from lower export prices. Import volumes edged up last month, and they will probably bounce back further in the near term, thanks to fiscal spending supporting import-heavy construction.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services