China’s Imports Drop, Export Growth Slows on Covid Lockdowns
- Imports declined 0.1% in dollar terms from a year ago
- Export demand shows global trade is holding up for now
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China’s imports unexpectedly fell in March and export growth slowed, with Covid lockdowns disrupting port operations and curbing business activity and spending.
Imports fell 0.1% from a year earlier in dollar terms, the first drop since August 2020 and well below the median forecast for a 8.4% rise. Exports grew 14.7%, customs data showed Wednesday, higher than the 12.8% forecast but slower than the 16.3% increase in the first two months of the year.