China April Exports Up 8.1%; Shipments to US Drop 21%, Surplus Hits $96 Billion

China’s exports climbed 8.1% in April from a year earlier, far outpacing the 2% consensus forecast, according to customs data released on Friday. Imports slipped just 0.2%, a narrower decline than expected, leaving the monthly trade surplus at US$96.1 billion. In yuan terms, exports grew 9.3% while imports rose 0.8%.

The headline strength concealed a sharp contraction in trade with the United States, where a 145% tariff on Chinese goods took effect on 9 April. Exports to the U.S. fell 21% year on year to roughly US$33 billion and were 17.6% lower than in March. Shipments to Southeast Asia, Latin America, Africa and the European Union rose 20.8%, 17%, 25% and 8.3%, respectively, helping offset the American shortfall.

Economists attribute part of the overall export surge to a rush by overseas manufacturers to secure supplies ahead of higher tariffs and to exporters rerouting goods through third countries. The data suggest Chinese firms are adapting quickly to the latest round of trade restrictions while global buyers diversify sourcing to avoid supply disruptions.

Over the first four months of 2025, China’s total goods trade expanded 2.4% year on year to 14.14 trillion yuan (US$1.96 trillion). Exports increased 7.5%, imports fell 4.2%, and trade with the U.S. contracted 2.1% to 1.44 trillion yuan.

Separate figures published on Saturday underscored continued weakness in domestic demand. Consumer prices slipped 0.1% from a year earlier in April, extending deflation to a third consecutive month, while producer prices fell 2.7%, deepening factory-gate deflation.