China’s Trade both Imports and Exports on March Falls Less than Expected amid Pandemic

China’s imports and exports on March both fell amid the ongoing coronavirus outbreak, but not as much as expected.

 

China’s March exports dropped by 6.6% in Dollar term compared to the same period in 2019, while imports fell by 0.9%, said by the Chinese General Administration of Customs. Economists were expected exports from China to decline 13.9%, while imports would shrink by 9.8% over the same period. 

 

The trade surplus on March recorded at 19.9 billion dollars. 

 

China reported combined trade data for the months of January and February, the exports has contracted by 17.2% from a year ago and imports narrowed 9.5% as an effect of the covid-19 pandemic driven China to lock down the country and suspend all economic activities. 

 

The Chinese General Administration of Customs spokesman Li Kuiwen stated at a press conference in Beijing that the novel coronavirus has hauled global economy downward with an uncertain period of recover, therefore there are difficulties in foreign trade for China.