China’s exports jumped more than expected in March as businesses kept frontloading outbound shipments to avoid prohibitive U.S. tariffs, while imports extended declines as domestic demand continued to weaken. The Chinese leadership has set an ambitious annual growth target of “around 5%” this year, a goal seen harder to achieve given the prospects of an escalating trade war and persistently lackluster domestic consumption. A general view of the container terminal in Qianwan of Qingdao Port, a port in Shandong Province, China, March 17, 2023. CFOTO | Future Publishing | Getty Images
China’s exports jumped more than expected in March as businesses frontloaded outbound shipments to avoid prohibitive U.S. tariffs, while imports extended declines as sluggish domestic demand persisted.
Exports jumped 12.4% last month in U.S. dollar terms from a year earlier, according to data released by customs authority on Monday, significantly outpacing Reuters’ poll estimates of a 4.4% growth and marking the biggest jump since October last year.
Imports fell 4.3% in March from a year earlier, compared with economists’ expectations of a 2% decline.
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