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China Trade Balance March 2019

China: Exports rebound in March

In March, exports expanded 14.2% over the same month last year, which contrasted the 20.8% drop in February. The print exceeded the 7.3% increase that market analysts had expected. Despite the rebound in March, analysts warn that it partially reflects the fading effect of the Chinese New Year holidays.

Imports declined 7.6% in annual terms in March, following the 5.2% drop recorded in February. The reading was below the 1.3% decline that market analysts had forecast and the weakest result in nearly three years.

As a result of the sharp decline in imports, the trade balance swung from a USD 5.8 billion deficit in March 2018 to a USD 32.6 billion surplus in March 2019 (February: USD 4.0 billion surplus). The 12-month moving sum of the trade surplus rose from USD 344 billion in February to USD 383 billion in March.

China Trade Balance Forecast

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