BEIJING, 13 April 2018:
China’s March exports unexpected fell 2.7% from a year earlier, the first drop since February last year, while imports grew 14.4% – more than expected – customs data showed today.
That left the country with a rare trade deficit of US$4.98 billion for the month, also the first since last February.
Analysts polled by Reuters had expected March shipments from the world’s largest exporter to have risen 10%, slowing sharply from a 44.5% spike in the previous month – which was believed to be heavily distorted by seasonal factors.
Import growth had been expected to pick up to 10%, after slowing sharply to 6.3% in February.
Analysts expected China would record a trade surplus of US$27.21 billion for last month, from February’s surplus of US$33.75 billion.
For the first quarter, exports rose 14.1% and imports rose 18.9% on-year.
China’s trade performance has got off to a strong start this year, following through on a solid rebound in 2017 – thanks to sustained demand at home and abroad.
But the export outlook is being clouded by an escalating trade dispute with the US – which could disrupt China’s shipments and its supply chains, while a cooling property market may curb China’s demand for imported raw materials such as iron ore.
– Reuters