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

Business News

Editors Pick
Ford Motor Co. has once again raised the price of its popular F-150 Lightning electric pickup truck after the automaker resumed its production that was halted following electric vehicle battery fire incident. The company will also resume shipments of the Lightning this week, reports said. Paducah, Kentucky-based Higdon Outdoors LLC is recalling certain battery packs and replacement batteries citing fire and/or burn hazards, the U.S. Consumer Product Safety Commission said. The recall includes lithium-ion battery packs and replacement batteries on XS Series Pulsators, Swimmers, Crazy Kicker, and Flasher motion decoys used for waterfowl hunting. New York-based Delta Enterprise Corp. is recalling about 43,380 units of 2-in-1 outdoor kids swings citing fall hazard, the U.S. Consumer Product Safety Commission said. This recall involves 2-in-1 Outdoor Kids Swing with model numbers SW86508MM, SW86516MN, SW86575MM, SW86576MN and SW86577PW.
Follow RTT