China’s international trade continued its rebound from last year’s Covid-19 outbreak, with exports jumping by 30.6%year-on-year in March and imports surging by 38.1%, the fastest clip in four years, reported Caixin.
Exports rose to $241.1 billion last month, data from the General Administration of Customs show. The pace of increase was lower than the median forecast for 37.4% growth in a Caixin survey of economists and was down from a 60.6% pace in the first two months of the year. The gain was also flattered by a low comparative base for March last year when exports fell 6.6%. Imports increased 38.1% year-on-year to $227.3 billion in March, faster than the 22.2% growth for January and February combined, as commodity prices and the volume of purchases jumped. The pace of growth, unmatched since February 2017, was well above the median forecast in the Caixin survey for a gain of 23% and followed a 0.9% drop in the same period last year. China’s trade surplus fell to $13.8 billion from $19.9 billion a year ago and $103.3 billion in the first two months.