China has reported a 12.4% year-on-year surge in exports for March 2025, driven by a rush from companies to ship goods ahead of steep new U.S. tariffs imposed by President Donald Trump.
The surge surpassed market expectations, highlighting the resilience of China’s export sector amidst escalating trade tensions.
However, imports fell by 4.3%, reflecting the volatility of global trade conditions.
In the first quarter of 2025, China’s exports grew by 5.8%, while imports dropped by 7%, painting a mixed picture of the trade landscape for the world’s second-largest economy.
Notably, the trade balance with the United States remained a key focal point, with China recording a $27.6 billion trade surplus in March, buoyed by a 4.5% rise in exports to the U.S. For the quarter, the surplus with the U.S. reached a substantial $76.6 billion.
Vietnam: An emerging trade partner
Vietnam emerged as a noteworthy trade partner during this period. Chinese exports to Vietnam rose by an impressive 17% in March, while imports from Vietnam saw a modest decline of 2.7%.
- The trade dynamics with Vietnam have taken on greater significance as China seeks to strengthen regional ties in the face of its ongoing trade dispute with the U.S.
- Chinese President Xi Jinping’s diplomatic visit to Vietnam on Monday emphasized this shift.
- The visit, which also includes stops in Malaysia and Cambodia, is expected to reinforce economic partnerships in Southeast Asia.
Although the trip was likely scheduled in advance, it now carries added geopolitical importance amidst increasing tensions with Washington.
Notably, several Asian nations, including China, are bracing for potential new U.S. tariffs, even as the U.S. recently announced a 90-day delay on their enforcement.
Chinese optimism amid challenges
Despite external challenges, China remains cautiously optimistic about its economic outlook.
Speaking on the trade figures, Chinese customs spokesperson Lyu Daliang acknowledged the “complex and severe external situation” but maintained confidence in China’s economic strength.
“China is facing a complex and severe external situation,” Lyu stated, “but the sky will not fall.”
Lyu emphasized China’s critical role in the global economy, noting that the country has been the world’s second-largest importer for 16 consecutive years.
Over this period, China’s share of global imports has risen from 8% to 10.5%. “At present and in the future, China’s import growth space is huge. The large Chinese market is always a great opportunity for the world,” he added.
What you should know
Despite rising U.S.-China tensions, the robust growth in China’s export figures shows the resilience of its trade sector. Coupled with its strategic partnerships in Asia, China continues to play a pivotal role in global trade, setting the stage for further economic opportunities.
- Last week, the Trump’s administration excluded smartphones, laptops, and other key electronic products from its sweeping reciprocal tariff measures in a move poised to benefit global electronics manufacturers and consumers alike.
- The exclusion list includes smartphones, laptop computers, hard drives, computer processors, and memory chips—items that are rarely manufactured in the United States and would require years of investment to localize production.
