Overview
- China Customs, which reported Tuesday, said March exports rose 2.5% from a year earlier after gains above 20% in January–February, missing forecasts near 9%.
- Imports jumped nearly 28% year over year in March, pushing the trade surplus to its lowest level in more than a year.
- Sales to the United States fell 26.5% to $29.4 billion, marking a sharp pullback in a key market.
- Analysts say the Middle East war has raised energy and shipping costs and added supply-chain risk, which has lifted China’s import bill and pressured exporters.
- The Strait of Hormuz carries a large share of the world’s oil and liquefied natural gas, so disruption fears have driven up energy prices that feed into China’s trade data, while economists see chip and green-tech demand helping exports and watch for Q1 GDP on Thursday.