China's Exports Decreased by 7.5% and Imports by 1.9% on an Annual Basis in March 2024

12 April 2024

China's trade surplus declined to USD 58.55 billion in March 2024 from USD 78.43 billion in the same period a year earlier, far below market forecasts of USD 70.2 billion, as exports dropped more than imports.

Exports shrank by 7.5%, compared to expectations of a 3% fall, while imports unexpectedly fell by 1.9%, missing market expectations of a 1.2% rise.

The trade surplus with the United States was at USD 22.94 billion. For the first three months of the year, the country posted a surplus of USD 183.7 billion, with exports rising 1.5% to USD 807.5 billion while imports grew 1.5% to USD 623.8 billion.

Source: Trading Economics
Post by: Republic of Türkiye Ministry of Trade