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The total value of imports and exports of goods in the first quarter was 9.89 trillion yuan. China's export data has amazed the international public opinion!

April 14, 2023

"The roaring recovery of the export engine at the heart of the Chinese economy has defied expectations and boosted hopes that Beijing will meet its growth target this year." So commented the Financial Times after the General Administration of Customs released import and export figures on April 13.

According to customs statistics, China's total value of imports and exports of goods in the first quarter was 9.89 trillion yuan, up 4.8% year on year. Among them, exports reached 5.65 trillion yuan, up 8.4 percent year on year. Imports reached 4.24 trillion yuan, up 0.2 percent year on year. Imports and exports fell 7 percent in January due to the Lunar New Year holiday, a spokesman for the General Administration of Customs said Thursday. February "from negative to positive", the monthly growth rate of 8%, March year-on-year growth rate increased to 15.5%, showing a month-on-month good trend. The overall growth rate in the first quarter was 4.8%, up 2.6 percentage points from the fourth quarter of last year. He concluded that China's foreign trade showed strong resilience in the first quarter, with a steady start and a good start, laying a foundation for promoting stability and improving the quality of foreign trade throughout the year.

"China's exports have rebounded sharply," The Wall Street Journal reported on April 13. China's exports surged in March from a year earlier, reversing declines in the first two months of 2023 and ending a nearly half-year losing streak that began in October of 2022, data from the General Administration of Customs showed Thursday. China's exports rebounded sharply in March in a surprise move that reflected rising demand in Asia and Europe and improved supply chains.

Regionally, ASEAN remained China's largest trading partner in the first quarter. Statistics show that the import and export of China and ASEAN in the first quarter was 1.56 trillion yuan, up 16.1% year on year. During the same period, China's imports and exports to countries along the Belt and Road increased by 16.8 percent, accounting for 34.6 percent of the total value of imports and exports.