Chine Balance Commerciale

China's trade surplus surged to USD 102.64 billion in March 2025, up from USD 58.65 billion in the same period a year earlier, exceeding market expectations of USD 77 billion. The sharp increase was largely driven by a 12.4% year-on-year surge in exports, the fastest rise since last October, surpassing market forecasts of a 4.4% gain, as factories rushed to ship goods ahead of U.S. President Trump's upcoming tariffs. Meanwhile, imports fell by 4.3%, compared to market expectations of a 2% drop and following an 8.4% slump in the January–February period, due to weak domestic demand. The trade surplus with the US stood at USD 27.58 billion in March. For the first quarter of the year, the country posted a USD 273 billion surplus, with exports rising 5.8% while imports falling 7.0%. During the period, the trade surplus with the US reached USD 76.65 billion, as exports advanced 4.5% while imports declined 1.4%.