Chinese exports soared higher than expected in March, according to data released on Monday, as businesses rushed to release goods before Trump’s staggering tariffs kicked in.
Exports jumped 12.4% when compared to March of 2024. This was more than double the 4.6% rise expected by experts surveyed by Bloomberg.
Meanwhile imports fell 4.3% year-on-year, an improvement on the first two months of the year, which signals that consumption in China may be on a rebound.
“At present, China’s exports are indeed facing a complex and severe external situation, but the sky will not fall down,” Lyu Daliang, a spokesman for the General Administration of Customs, said in a news conference after the data was released.
However, analysts said the export is likely to take a hit as businesses feel the pressure from the tariffs.
“The strong export data reflect front-loading of trade before the US tariffs were announced,” Zhiwei Zhang, head of Pinpoint Asset Management said in a note. “China’s exports will likely weaken in coming months as the US tariffs skyrocket,” he said, adding that uncertainty was extremely high.
Julian Evans-Pritchard, head of China economics at Capital Economics also expects shipments to “drop back” over the coming months. “It could be years before Chinese exports regain the current levels,” he said in a note ot investors.
