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Despite rosy trade figures in the first quarter, China has to work hard this year to ensure foreign trade growth and improve its trade structure, due mainly to increased uncertainties both at home and abroad, industry experts said.
Although first quarter export growth beat expectations, the impact of the COVID-19 pandemic may continue to squeeze exporters and could pressure overall foreign trade performance in the first half of 2022, they said.
Their comments came after the General Administration of Customs said on Wednesday that China's exports of goods in March surged by 12.9 percent year-on-year to more than 1.75 trillion yuan ($274 billion).
The combined exports and imports hit around 3.2 trillion yuan during the month, increasing 5.8 percent year-on-year, although imports dipped by 1.7 percent to about 1.45 trillion yuan.
The foreign trade in goods reached 9.42 trillion yuan in the January-March period, up 10.7 percent year-on-year. Exports grew by 13.4 percent on a yearly basis to 5.23 trillion yuan while imports increased by 7.5 percent to 4.19 trillion yuan.
Given more efforts to boost foreign trade, analysts predict the nation's foreign trade will continue to expand in 2022, probably at a rate higher than gross domestic product growth, thanks to the strong resilience of Chinese enterprises and effects of policy measures to ease the burden on companies and stabilize overall economic growth.
