China’s General Administration of Customs released import and export figures for the first two months of 2023 on March 7, admitting that imports and exports had fallen year on year (YOY) and manufacturing exports had fallen across the board.
According to the official data, China’s exports fell 6.8 percent from a year earlier to $506.3 billion in January-February. Imports totaled $389.4 billion, down 10.2 percent year on year. The trade surplus was $116.9 billion, up 0.8 percent from $116 billion year on year.