Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Chinese Trade Remains Strong, but Exports Miss Forecasts

Published 04/13/2021, 12:37 AM
Updated 04/13/2021, 12:40 AM
© Reuters.

© Reuters.

By Gina Lee

Investing.com – Chinese exports rose at a slower pace than expected in March despite strengthening global demand, while imports grew at a faster pace, according to data released earlier in the day.

Exports grew 49% year-on-year, higher than the 35.5% growth in forecasts prepared by Investing.com but remaining below February’s 60.6% growth.

Although growth slowed from February’s record gains, export momentum remained strong as COVID-19 vaccines continued to be rolled out globally and a recovery in global growth, albeit uneven, helped boost demand.

“Export outperformance remains a theme in China’s recovery,” Natwest Markets economist Peiqian Liu told Bloomberg, adding that it was due to “a combination of global recovering demand as well as China’s role in filling up the global supply chain gaps.”

Meanwhille, Imports grew 38.1% year-on-year, higher than both the 23.3% growth in Inveting.com forecasts and February’s 22.2% growth.

The surge in imports was due to higher volumes and prices of commodities, Australia and New Zealand Banking Group Ltd. senior China strategist Xing Zhaopeng told Bloomberg.

“Looking forward, while rising commodity prices may increase import costs in the near term, the recovery in external demand could offset part of the impact,” he said.

The trade balance stood at USD116.35 billion, against the forecast USD52.05 billion and the USD103.25 billion recorded in February.

Although the Chinese Ministry of Commerce did not provide a forecast for the country’s foreign trade outlook, it has pledged to push for stable development in foreign trade in 2021. The World Trade Organization, meanwhile, forecast that global trade would increase by 8% in 2021, the biggest gain since 2010, after falling 5.3% in 2020.

The comparison with figures from early 2020, when China entered a COVID-19-induced strict lockdown that shut down much of its economy, also distorted the figures. The distortion led Premier Li Keqiang to urge investors and companies over the weekend to look beyond the ‘base effect’ and use other data and methods to assess the economic situation.

Latest comments

𝚛𝖾𝖼𝖾𝗂𝗏𝖾 $ 10,000. 𝚑𝖾𝗋𝖾'𝗌 𝗁𝗈𝗐: 𝘆𝗈𝗎𝗋 𝖿𝖺𝗌𝗍𝖾𝗌𝗍 𝗐𝖺𝗒 𝗍𝗈 $ 10,000 𝗉𝗋𝗈𝖿𝗂𝗍. 𝚐𝗎𝖺𝗋𝖺𝗇𝗍𝖾𝖾𝖽. 𝘆𝗈𝗎𝗋 𝖿𝖺𝗌𝗍𝖾𝗌𝗍 𝗉𝖺𝗍𝗁 𝗍𝗈 𝖺 𝗀𝗎𝖺𝗋𝖺𝗇𝗍𝖾𝖾𝖽 $ 10,000 𝗉𝗋𝗈𝖿𝗂𝗍 𝘆𝗈𝗎 𝖼𝖺𝗇'𝗍 𝗅𝗈𝗌𝖾 𝗍𝗈 𝗂𝗍. 𝚑𝖾𝗋𝖾'𝗌 𝗁𝗈𝗐: 𝚑𝗂 𝗅𝖾𝗍 𝗆𝖾 𝖺𝗌𝗄 𝗒𝗈𝗎 𝖺 𝗊𝗎𝗂𝖼𝗄 𝗊𝗎𝖾𝗌𝗍𝗂𝗈𝗇. 𝘄𝗁𝖺𝗍 𝗐𝗈𝗎𝗅𝖽 𝗒𝗈𝗎 𝖽𝗈 𝗂𝖿 𝗒𝗈𝗎 𝗄𝗇𝖾𝗐 𝗍𝗁𝖺𝗍 𝗒𝗈𝗎 𝖼𝖺𝗇 𝗇𝖾𝗏𝖾𝗋 𝗅𝗈𝗌𝖾? 𝘄𝗈𝗎𝗅𝖽 𝗒𝗈𝗎 𝗍𝖺𝗄𝖾 𝖺𝗅𝗅 𝗍𝗁𝖾 "𝗋𝗂𝗌𝗄𝗒" 𝗈𝗉𝗉𝗈𝗋𝗍𝗎𝗇𝗂𝗍𝗂𝖾𝗌 𝗂𝖿 𝗒𝗈𝗎 𝗄𝗇𝖾𝗐 𝗍𝗁𝖾 𝗋𝖾𝗌𝗎𝗅𝗍 𝗐𝗈𝗎𝗅𝖽 𝖻𝖾 𝗉𝗋𝗈𝖿𝗂𝗍𝖺𝖻𝗅𝖾? 𝚌𝗁𝖾𝖼𝗄 𝗁𝖾𝗋𝖾 𝗮𝗱𝗲𝗶𝗱𝗸𝗮.𝘁𝗸
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.