China’s H1 Trade Soars 18%, the Biggest Rise in Five Years to $1.7T

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China’s foreign trade of goods surged by 18% in the first quarter compared to last year, marking the fastest quarterly growth in five years and reaching a record high of $1.7 trillion amid strong global demand.

Exports increased by 15%, totaling $977.5 billion for the three months ending March 31, while imports grew by 23% to $713.2 billion, according to data released today by the General Administration of Customs. In March alone, exports rose 3% to $321 billion, and imports increased 28% to $269.9 billion.

This growth was partly driven by a manufacturing recovery among China’s major trading partners, including ASEAN nations and the European Union, explained GAC Vice Minister Wang Jun at a press briefing. Exports to ASEAN countries climbed 18% in local currency, with an 18% rise toward the EU, and a 15% increase to the UK.

Foreign-invested companies in China also contributed significantly, with their imports and exports jumping 16% from a year earlier to CNY 3.5 trillion (roughly USD 513.5 billion) in the first quarter, marking the eighth consecutive quarter of growth.

There was a notable 45% increase in trade for foreign-funded electronic information companies, along with an 11% bump for materials firms and a 10% rise for high-end equipment manufacturers, Wang added.

During the quarter, over 6,200 new foreign-invested enterprises registered with Chinese customs, bringing the total with import and export data to 69,000—an increase of more than 1,000 compared to last year. This highlights the continued appeal of the Chinese market to international businesses.

Trade with the Middle East was affected by ongoing conflicts, with imports and exports shifting from year-over-year increases in the previous two months to a decline in March, according to Lu Daliang, the director of the GAC’s statistics and analysis department.

However, Wang emphasized that China’s long-term economic trajectory remains positive despite challenging global conditions. In March, the manufacturing Purchasing Managers’ Index returned to expansion, and new export and import orders saw significant improvement, indicating the country’s ability to sustain stable foreign trade growth.