China trade: imports unexpectedly ‘collapsed’ under coronavirus and Ukraine war pressures, but exports grew

Imports fell by 0.1 per cent in March from a year earlier, down from 15.5 per cent growth in combined figures for January and February

Exports grew by 14.7 per cent in March compared with a year earlier, down from 16.3 per cent growth in combined figures for January and February

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China’s exports grew by 14.7 per cent in March compared to a year earlier, while imports fell by 0.1 per cent last month, data released on Wednesday showed. Photo: Reuters

Published: 12:51pm, 13 Apr 2022Updated: 2:31pm, 13 Apr 2022

China’s imports fell unexpectedly in March, data released on Wednesday showed, while export growth beat expectations.

Imports fell by 0.1 per cent in March from a year earlier to US$228.7 billion, compared with growth of 15.5 per cent in combined figures for January and February.

The March figure was well below the median result of a survey of analysts conducted by Bloomberg, which had predicted 8 per cent growth.

In the first quarter, imports grew by 9.6 per cent to US$657.98 billion, compared with a year earlier.

Exports, meanwhile, grew by 14.7 per cent last month from a year earlier to US$276.08 billion, compared with growth of 16.3 per cent in combined figures for January and February.

The March figure was above the Bloomberg survey, which had predicted 12.8 per cent growth.

In the first quarter, exports grew by 15.8 per cent to US$820.92 billion compared with a year earlier.