China exports up 16.4% in March - most in two years, but imports slow

Posted by Daily Shipping Times on 21-04-2017        Tweet

CHINA: CHINA's export shipments increased the most in two years in March as global demand held up, though imports slowed after holiday season sales soared in February.

In dollar volume, exports were up 16.4 per cent in March, reversing a 1.3 per cent fall in February, according to China Customs figures.

While down from the dazzling 38 per cent increase enjoyed in February, imports still increased a robust 20.3 per cent to leave a trade surplus of US$23.93 billion.

Customs officials urged all to treat Chinese early year trade figures with caution.

"The March number is much better compared to previous months because the first two months are often twisted by the week-long Lunar New Year holiday," said Wang Qiufeng, an analyst at China Chengxin International Credit Rating in Beijing.

"The coming quarters won't be as strong, especially on the imports front; the prices of commodities won't continue rising, which may drag down on the import growth," she said.

Demand for Chinese products has proved resilient this year as the global expansion holds up. Simmering tensions with the Country's largest trading partner also appear to be easing after US President Donald Trump and Chinese counterpart Xi Jinping tried to find common ground on trade last week at their first meeting and agreed to a "100-day plan" for discussions.