Exports from China in U.S. dollar terms surged again in March from a year ago, largely due to favorable base effects and strong price increases, according to Oxford Economics.
Indeed, adjusted for price effects and seasonal factors, Oxford Economics estimates export volumes eased back from January-February’s strong pick-up. In first quarter as a whole, export volumes grew markedly from fourth quarter, supported by an improvement in global demand.
The export momentum will remain robust in the rest of 2021. While global shipping delays pose a near-term challenge, the strong global economic recovery should support China’s export outlook.
Imports in U.S. dollar terms grew at a faster pace than in January-February, both in year-over-year terms and on a sequential basis. Oxford Economics believes goods imports should continue to grow in the rest of the year due to the ongoing domestic recovery.
Goods exports in U.S. dollar terms rose 30.6 percent year-over-