China
2022.04.13 10:04 GMT+8

China's March imports unexpectedly drop 0.1%, exports up 14.7%

Updated 2022.04.13 18:30 GMT+8
CGTN

A container ship in Ningbo-Zhoushan port in Ningbo, Zhejiang Province, China, April 2, 2022. /CFP

China's imports in March unexpectedly dropped 0.1 percent from a year earlier, customs data showed on Wednesday, as a new outbreak of the Omicron variant and geopolitical conflicts have brought uncertainties to the country's economy.

March imports, which a Reuters' poll estimated to be 8 percent higher than a year before, stood at $228.7 billion, while exports beat expectations, jumping 14.7 percent last month year on year to $276.08 billion, according to the General Administration of Customs (GAC).

In the first quarter, total foreign trade rose 13 percent to $1.48 trillion compared to the same period last year, according to the GAC, as imports were up 9.6 percent and exports climbed 15.8 percent.

"China's foreign trade has maintained positive year-on-year growth for seven consecutive quarters," said GAC spokesperson Li Kuiwen, adding the country's trade data from January to March achieved a "stable start."

However, "the external environment of foreign trade is becoming more severe and complex," Li said, pointing out that there were some "unexpected factors" both internationally and domestically.

The world's second largest economy has already seen challenges. In March, China saw its manufacturing Purchasing Managers' Index drop under 50 for the first time in five months, indicating contraction of factory activity.

Read more: China's consumer-price growth accelerates to 1.5% in March

(Graphic designer: Yin Yating)

Copyright © 

RELATED STORIES