According to the data provided by China’s General Administration of Customs, imports fell by 4.3%.
The report also indicated that the exports from the world’s second-largest economy increased by 5.8% in the first three months of the year compared to the same period the previous year, while imports saw a decline of 7%.
China’s trade surplus with the United States amounted to $27.6 billion (24.2 billion euros) in March, with Chinese exports rising by 4.5%. Over the first quarter, the Asian country recorded a trade surplus of $76.6 billion (67.3 billion euros) with the U.S.
China is currently facing tariffs of 145% on most of its exports to the United States.
Nevertheless, the most significant increases in exports were to Southeast Asian countries, which saw imports from China rise by nearly 17% in March compared to the same period last year.
Exports to Africa increased by more than 11%.
Chinese President Xi Jinping departed for Vietnam today, embarking on a tour that includes Malaysia and Cambodia, aimed at strengthening trade ties with other Asian nations also confronting significant tariffs, although the respective implementation has been postponed by President Trump for 90 days.
China’s exports to Vietnam increased by nearly 17% last month compared to March of the previous year, while imports fell by 2.7%.
Liu Daliang, spokesperson for the Chinese Customs Administration, stated that China is dealing with a “complex and severe external situation,” but emphasized that “the sky will not fall.”
When questioned about the decline in Chinese imports, Liu informed journalists that China has been the world’s second-largest importer for 16 consecutive years, enhancing its share of global imports from about 8% to 10.5%.
He asserted, “Currently and in the future, the growth space for China’s imports is immense, and the vast Chinese market will always present a great opportunity for the world.”
