Customs data reported that China’s exports in March rose 30.6 percent year-on-year, below expectations, but still indicating strong growth, while imports jumped 38.1 percent faster than expectations, according to “Reuters”.
It was estimated that imports rose 23.3 percent year on year, up from 17.3 percent growth in February.
China recorded a trade surplus of $ 13.8 billion in March, compared with a poll forecast of $ 52.05 billion and a surplus of $ 37.88 billion in February.
A statement issued by the customs also stated that China’s imports of crude oil amounted to 139 million tons in the first quarter of the year.
The administration said that China’s imports of natural gas from January to March amounted to 29.39 million tons.
China’s imports of crude oil jumped 21 percent in March, based on a low comparison for the same period a year ago, as refiners intensified activity amidst strong fuel demand after Covid-19, but purchases slowed ahead of a season for maintenance work.
The data showed that the largest buyer of crude oil in the world imported 49.66 million tons last month, which is equivalent to 11.69 million barrels per day.
March imports were down from 11.73 million bpd in the previous month.
In the first quarter of the year, total imports amounted to 139.23 million tons, equivalent to 11.29 million barrels per day. This came in comparison to 10.2 million barrels per day in the same period a year ago.