China's exports surge as shipments to Southeast Asian countries offset plunge in U.S. trade
A China Shipping cargo container sits stacked at the Port of Long Beach in Long Beach, California on April 10, 2025.
Patrick T. Fallon | Afp | Getty Images
China's exports surged in April on the back of a jump in shipments to Southeast Asian countries, offsetting a sharp drop in outbound goods to the U.S. as prohibitive tariffs kicked in last month.
Exports jumped 8.1% last month in U.S. dollar terms from a year earlier, according to data released by customs authority on Friday, sharply beating with Reuters' poll estimates of a 1.9% rise.
Imports slumped by 0.2% in April from a year earlier, compared with economists' expectations of a 5.9% drop.
China's outbound shipments to the U.S. plunged over 21% in April year on year, while imports dropped nearly 14%, according to CNBC's calculation of official customs data.
The surge in overall exports could be partly due to transshipment through third countries and contracts that were signed before the tariffs were announced, Zhiwei Zhang, president and chief economist at Pinpoint asset management said in a note. Zhang expects trade data to weaken gradually in the next few months.
China's exports to the Association of Southeast Asian Nations surged 20.8% in April from a year earlier, accelerating from a 11.6% growth in March, while imports from the bloc increased 2.5%.
Meanwhile, China's exports to the European Union rose 8.3% while imports fell 16.5% year on year.
Global shipments from China had clocked a 12.4% year-on-year growth in March, as businesses rushed to export goods to avoid higher tariffs. Imports, however, had dropped by a more than expected 4.3% from a year earlier, underscoring Beijing's challenge of reviving domestic demand.
U.S. President Donald Trump has placed tariffs of 145% on all imports from China, prompting it to retaliate with tariffs of 125% on American imports. So far, both sides have sought to blunt the economic impact of triple-digit levies by granting exemptions on certain critical products.
The number of container vessels from China to the U.S. had dropped dramatically toward the end of April, Raymond Yeung, chief economist for Greater China at ANZ Bank said in a note Thursday.
Chinese government has sought to help exporters divert sales to the home market, a move that could drive the economy into deeper deflation.
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