logo
  

China Exports Rise More Than Expected; Imports Drop Unexpectedly

china trade 071317 13apr22 lt

China's exports grew more than expected in March and imports logged an unexpected fall largely due to the lockdown and supply chain disruptions, official data revealed on Wednesday.

Exports grew 14.7 percent on a yearly basis in March, the General Administration of Customs said. This was faster than the expected growth of 13.0 percent but slower than the 16.3 percent expansion posted in January to February period.

Meanwhile, imports dropped 0.1 percent from the last year, confounding expectations for an increase of 8.0 percent. Imports had increased 15.5 percent in the first two months of the year.

As a result, the trade surplus came in at $47.38 billion in March, which was well above the expected level of $22.4 billion.

While disruptions from the latest COVID-19 outbreak are partly to blame for the fall in goods trade, shifts on the demand-side played a bigger role, Julian Evans-Pritchard and Sheana Yue, economists at Capital Economics, said.

Economists said export volumes are set to fall further over the coming quarters. Import volumes are also likely to remain soft.

High commodity prices will continue to prop up import values in the near-term, they said. But prices are expected to drop back during the second half of the year as uncertainty surrounding the war in Ukraine eases.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT