China’s trade surplus stood at 9.89 trillion yuan ($1.44 trillion) in the first quarter of 2023, rising 4.8% compared to the same period a year earlier, the country’s General Administration of Customs said on Thursday. Exports climbed 8.4% to 5.65 trillion yuan with exports of electric vehicles, lithium batteries and solar products contributing most to the increase. Meanwhile, imports were up 0.2% year on year and amounted to 4.24 trillion yuan. In March, foreign trade rose 15.5% compared to the same month in 2022.
China’s trade surplus widened to USD 88.19 billion in March 2023 from USD 44.35 billion in the same period a year earlier, easily beating market forecasts of USD 39.2 billion. Exports unexpectedly jumped by 14.8% yoy, the first increase in six months and the fastest pace since last July, while imports dropped a smaller-than-expected 1.4%, amid weakening domestic demand. Meanwhile, the politically sensitive trade surplus with the United States narrowed to USD 27.6 billion in March from USD 41.3 billion in February. NN: China is back bigger and badder then ever, And in order to have a trillion dollar plus trade surplus you got to sell a lot of shit… And to make the shit you sell you got to use a lot of energy. I love these balance of trade reports… they are the most accurate since they are based on customs cleared goods.