China's Trade March 2023

According to data from China's General Administration of Customs on April 13, the country's trade with the rest of the world grew 4.8 per cent to RMB 9.89 trillion in Q1 2023. The exports grew by 8.4 per cent year-on-year in the first three months of 2023, while imports increased by 0.2 per cent.

The data shows that exports rose 48.4 per cent month-on-month in March, while imports increased 15.9 per cent.

China's cumulative trade with its top three trading partners grew respectively 16.1 per cent with ASEAN, 2 per cent with the EU, and fell 6.2 per cent with the US.

From January to March, China's imports and exports with the Belt and Road Initiative economies increase 16.8 per cent year-on-year, accounting for 34.6 per cent of its total trade, while that with other members of the Regional Comprehensive Economic Partnership grew 7.3 percent during this period.