China’s exports grew 2.5% year-on-year to USD 321.03 billion in March 2026, slowing sharply from a 21.8% surge in the January-February period and coming in below market forecasts of 8.3%. It marked the softest export growth since October, when outbound shipments declined 1.3%. The slowdown came as AI-driven demand was offset by global uncertainty following the energy shock triggered by Iran’s closure of the Strait of Hormuz. Sales increased to Japan (3.3%), South Korea (19.6%), Taiwan (35.2%), Australia (11.9%), the ASEAN countries (6.9%), and the EU (8.6%), but declined to the U.S. (-26.5%). For the first quarter of the year, exports rose 14.7% yoy to USD 977.49 billion.

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