China Trade Surplus Narrows In March


China reported trade surplus a USD 23.9 billion in March of 2017, compared to a USD 25.2 billion surplus a year earlier and above market expectations of a USD 10 billion surplus. However, it is the lowest trade surplus in a year.

In March exports increased by 16.4 percent year-on-year to USD 180.6 billion, following a 1.3 percent fall in February while markets expected a 3.2 percent growth.

Imports rose 20.3 percent to USD 156.7 billion, after jumping 38.1 percent in the prior month and above consensus of an 18 percent rise.

In yuan-denominated terms, exports went up 22.3 percent and imports rose 26.3 percent.

In February 2017, China posted a trade deficit of USD 9.15 billlion, the first gap in three years.

Considering the first three months of 2017, exports went up 8.2 percent from the same period a year earlier, boosted by higher shipments of electronics (8.6 percent), high-tech products (8 percent), handheld radiotelephones and parts (13.8 percent) and automatica data processing equipment and components (8.4 percent). In contrast, sales fell for clothing and accessories (-0.1 percent), chinese herbal medicine and Chinese medice (-3.2 percent), mineral fertilizer and fertilizer (-21.6 percent), and  precious metal or precious metal jewelry (-0.1 percent).
 
Exports were higher to Hong Kong (0.9 percent), India (14.2 percent), Japan (4.8 percent), South Korea (17.4 percent), Taiwan (10 percent), ASEAN countries (11.4 percent), the EU countries (7.4 percent), South Africa (16.5 percent), Brazil (35.8 percent), Russia (22.4 percent), Australia (8.7 percent) and New Zealand (6.5 percent). The US were the main export partner, with sales rising 10 percent. 
 
Imports jumped 24 percent, mainly due to higher purchases of electronics (11.3 percent), high-tech products (11.7 percent), integrated circuits (11.8 percent), crude (79 percent), agricultural products (19.4 percent) and iron ore and concentrates (91.3 percent). The European Union was the main import partner (imports rose 15.5 percent), followed by the ASEAN countries (27.1 percent), South Korea (13.2 percent), the US (25.9 percent), Japan (20 percent), Taiwan (16.3 percent) and Australia (74.2 percent).

China Trade Surplus Narrows In March


General Administration of Customs of China | Chusnul Ch Manan | chusnul@tradingeconomics.com
4/13/2017 8:29:40 AM