City skyline in China

China Merchandise Imports (USD bn)

Imports in China

Merchandise exports rise at a more moderate pace in April

Merchandise exports climbed 8.5% year-on-year in April, on the heels of March’s unexpected 14.8% upturn and slightly outpacing market expectations. April’s slowdown was likely partly linked to factories having worked through some of the post-Lunar-New-Year order backlogs. However, surging exports to Russia and rising vehicle sales supported the reading. Meanwhile, merchandise imports declined 7.9% over the same month last year in April (March: -1.4% yoy), contrasting market expectations of a flat reading.

As a result, the merchandise trade balance improved from the previous month, recording a USD 90.2 billion surplus in April (March 2023: USD 88.2 billion surplus; April 2022: USD 49.5 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 969.2 billion surplus in April, compared to the USD 928.5 billion surplus in March.

China Imports Chart

This chart displays Imports (USD billion) for China from 2013 to 2022.

China Imports Data

2017 2018 2019 2020 2021
Merchandise Imports (USD bn) 1,844 2,136 2,078 2,066 2,687

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