China’s export growth slowed in March as manufacturers grappled with surging commodity and energy costs due to the Middle East conflict disrupting supplies, while imports logged the strongest growth in more than four years.
Exports grew at their slowest pace in six months at 2.5% in U.S. dollar terms last month from a year earlier, Chinese customs data showed Wednesday, missing Reuters-polled analysts’ median estimate for a 8.6% growth, and weakening from the combined 21.8% surge in the first two months of the year.
Shipments to the U.S., China’s largest trading partner by country, declined 26.5% year on year.
Imports surged 27.8% in March from a year ago, marking the strongest growth since November 2021, sharply beating expectations for a 11.2% growth, and quickening from 19.8% in the prior two months.
China releases combined trade data for January and February due to fluctuations around the Lunar New Year, the country’s biggest holiday, which follows the agrarian calendar.
