China's exports up 12.4% in Mar as US tariff hikes loom

China's exports jumped 12.4% in March from a year earlier in a last-minute flurry of activity as companies rushed to beat increases in US tariffs imposed by US President Donald Trump, and analysts forecast sharp setbacks ahead.

- AP

BANGKOK:

Imports fell 4.3% to $211.3 billion in March, the customs administration reported, far exceeded by exports worth $313.9 billion, leaving a trade surplus of $102.6 billion.

"But shipments are set to drop back over the coming months and quarters," Julian Evans-Pritchard of Capital Economics said in a report. "We think it could be years before Chinese exports regain current levels."

China's trade surplus surged to a record $992.2 billion in 2024 and its exports climbed 5.4%, helping to make up for sluggish growth at home as the country slowly recovers from a crisis in its property market and lingering impacts of the covid-19 pandemic.