China's exports rose 15.7% year-on-year in March, while imports remained stable, according to Chinese customs, despite disruptions in supply chains caused by covid-19 outbreaks in the country.

Exports rose to $276.1 billion despite coronavirus prevention measures imposed in Shanghai and other industrial centers, which prompted several factories to reduce production. Imports rose by less than 1%, to $228.7 billion.

Exports to the 27 countries of the European Union fell in March by 9.1% year-on-year to $44.4 billion while imports fell by 41.6% to $24.3 billion.

China's surplus in trade with Europe grew 179.31TP2Q to $20.1 billion

The number of covid-19 infections in China is relatively low compared to other parts of the world, but the government's 'zero case' strategy has led to the confinement of 25 million people in Shanghai since the end of March and suspended access to other major industrial centers in the southeast and northeast of the country.

The restrictions have raised fears that global trade could be disrupted. Chinese authorities say they are taking steps to keep the ports operating, but manufacturers have had to reduce production in the face of disruptions to component supplies.

Domestic consumption has also been hurt, in the face of a slowing economy, triggered by an official campaign to reduce debt in China's vast real estate sector.

In the last quarter of 2021, China's economic growth fell to 4% from the same period a year earlier, below the average of 8.1% for the full year.

Exports to the United States rose 22.4% in March from the same period last year to $47.3 billion despite the protracted trade war between the two countries, which resulted in the imposition of punitive tariffs.

Imports of US goods increased 11.51TP2Q to $15.2 billion.

This trade surplus is politically sensitive and was one of the factors that led previous US President Donald Trump to raise tariffs on Chinese goods in 2019.

With virtually zero growth in imports, China's overall trade surplus rose 243% in March to $47.4 billion.

Source: Lusa