China's exports surge despite global volatility
China's exports jumped 18% in the first two months of 2026, driven by stronger trade with ASEAN and the EU, despite global market volatility.
The export surge represents the biggest gain in four years, with exports jumping 21.8% compared to the previous year. This figure combines January and February data to account for distortions due to the Lunar New Year holiday. Key export drivers included semiconductors (72.6%), autos (67.1%), and ships (52.8%). Hi-tech exports also saw a significant surge, increasing 26.9% year-over-year. While exports to the U.S. declined by 11%, strong demand from ASEAN (29.4%), the EU (27.8%), Africa (49.9%) and Australia (29.4%) offset this dip. Trade with Belt and Road Initiative partner countries also saw a substantial increase, rising 20%. Imports are also up, increasing 19.8% year-on-year, signaling strong domestic demand within China. This import growth is led by tech products, including automatic data processing machines (68.7%) and semiconductors (39.8%).
