China’s trade balance for March, in yuan terms, was CNY 87.98 billion compared to CNY 516.81 billion last year.
The exports in the third month of 2021 increased by 20.7% monthly compared to the previous 10.9%.
The imports increased 27.7% versus -0.2% previously.
On annual terms, the exports grew 30.6% compared to the + 35.5% expected and the + 18.1% seen in February. This is the highest rise recorded by the indicator since March 2018.
The YoY imports increased 38.1% versus the + 23.3% expected. and the previous + 6.5%. This is the highest growth seen since March 2017.
Steady domestic growth in China has reportedly boosted trade and there is a conviction that trade momentum can be sustained.
The high base of comparison will bring challenges for trade growth in the second quarter of 2021.
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