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China's Exports, Imports to Grow in March: Reuters Poll

China’s Exports, Imports to Grow in March: Reuters Poll

Posted Monday, April 12, 2021 by
Arslan Butt • 1 min read

According to a recent poll of economists by Reuters, China is expected to report strong exports on the back of an uptick in external demand while the hike in crude oil prices is expected to drive up China’s imports for the month of March. Economists expect China’s trade surplus to touch $52.05 billion during March after coming in at $103.25 for the first two months of 2021.

Economists forecast an increase in exports out of China by 35.5% over the last month, lower than the 60.6% increase seen in January and February. Meanwhile, imports are expected to increase to 23.3% for the month of March, from the 22.2% increase seen during the first two months of the year.

The demand for Chinese exports is on the uptick as economies around the world, especially the US, emerge out of the coronavirus crisis and resume normal levels of economic activity. Despite the US-China tensions, the US still remains one of China’s most important trade partners, and economists have forecast a faster than expected economic recovery for the US, which is likely to spur demand for China’s exports further in the coming months.

Meanwhile, the trade-reliant economy of China could face some risks and see demand weaken in the wake of the latest wave of the pandemic striking several countries, especially across Europe. Another grave concern that can hold back exports is the shortage of chips globally, which is likely to impact manufacturers producing TVs, smartphones, cars and other electronic goods.

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