China’s trade surplus slumped to USD 51.13 billion in March 2026, down from USD 101.93 billion in the same period a year earlier, far below market expectations of USD 112 billion, marking the smallest since February 2025. Exports rose 2.5% yoy to USD 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%. Meanwhile, imports jumped 27.8% yoy to USD 269.90. billion, well above expectations of 11.1% and quickening from an upwardly revised 19.8% in the January-February period. The trade surplus with the US stood at USD 16.8 billion in March. For the first quarter of the year, the country recorded a USD 264.33 billion, with exports and imports rising by 14.7% and 22.7%, respectively.
