Guangzhou (JLC), April 13, 2023--China's exports soared by 14.8% year on year to 315.59 billion US dollars in March 2023, reversing declines in the first two months, according to data released by the General Administration of Customs of the PRC (GACC) on April 13.
The surge was ascribed to a low base a year before when China was hit by another wave of outbreaks, improving foreign trade after China reopened at the end of 2022 and delayed customs declaration of some cargoes from the first two months of 2023.
Due to the jump in March, the country's exports rallied by 0.5% in the first quarter, versus a fall of 6.8% in the first two months, the data shows.
In contrast, the country's imports slipped by 1.4% year on year to 227.40 billion US dollars in March, the GACC data indicates. Imports in the first quarter dropped by 7.1%, slowing down from a plunge of 10.2% in the first two months.
