Chinese exports increased by 2.3% in the year in January and

The increase in China's exports slowed down more than expected at the beginning of the year, while imports dropped because the flawless domestic demand and American tariffs challenge Beijing to try to strengthen slow growth.

Export in the period from January to February increased by 2.3% in American dollars from a year earlier, Data from the customs authority Friday, significantly emphasizing the expectations by a 5% increase in Reuters survey.

This meant the slowest increase since April last year, when Export increased by only 1.5% a yearAccording to LSEG data.

Imports surprised the markets, falling by 8.4% year on year in the first two months of 2025, The sharpest fall from July 2023.Lesg data. Analysts expected imports to increase 1% year on year.

The acute import of imports showed that “the conquest of the stimulus in the last quarter in domestic demand has already partially reversed,” said Julian Evans-Prussian, head of China Economics at Capital Economics.

Chinese exporters are in a hurry to go out on the front since the end of last year on waiting for more tariffs, when US President Donald Trump returned to the White House.

The first round of Trump 10% of tariff increases for Chinese goods entered into force on February 4, and then Another 10% tariff increase Establishing just a month later, bringing cumulative fees to 20%.

China took revenge with Additional tariffs for selected American goodsIncluding energy and agricultural products, while limiting the export of some critical minerals that the US needs.

“Because companies expect further mutual tariffs between the USA and China, there is still some demand for loading the front,” said Gary NG, senior economist at Natixis. Due to the higher base last year, in combination with the growing tariffs, it expects that China's foreign trade will remain under pressure in the coming months.

The customs agency publishes combined commercial data for the first two months due to the distorting effects from the usually slow season during the holidays in the new moon year, which fell at the end of January this year.

Despite the growing tariff tensions, Chinese leadership this week establish an ambitious growth goal of about 5% This year, granting poor domestic demand by adjusting the inflation target to the lowest level in decades.

Total commercial values ​​of China Stated 2.4% in American dollars Official data showed that in the first two months from the year earlier.

China trade From the USA increased by 2.4% In terms of the American dollar in the first two months of the year, with 2.3% year -on -year export and import by 2.7%. The United States remain the largest trading partner based on one country, which is over 11% of the total Chinese transaction.

Nevertheless, “if a contract is not concluded to avoid tariffs, it is expected that trade from the US is softened in the coming months,” said Lynn Song, China chief economist at ING.

Trade in the country with other main trading partners, including the European Union, Japan and South Korea, fell due to the falling import and slight increase in exports. Imports from the EU nations dropped by 5.6%, while exports increased by 0.6%.

China exports to ASEAN, a block of nations of Southeast Asia, increased by 5.7%, and imports dropped by 1.3%.

Exports of steel and rare lands fell by 3.9% and 0.4% a year, while the results and advanced technologies increased by 5.4% and 2.2%, respectively, Official data was shown.

Meanwhile, China Import of agricultural goods reduced Importantly, along with imported soy reduced by 14.8% a year. Import of iron ore and rare lands dropped about 30%.

Poor import data has shown that “improvement of real estate and infrastructure is too mild, and the trend (buyer) domestic substitutions for cheaper goods and excessive ability remains,” said Natixis' NG.

When Trump began his second term, he ordered the administration to examine Beijing's compliance with the trade agreement concluded during his first presidency in 2020. Delivered to Trump until April 1Economists said potentially preparing the scene for further tariff activities.

From last year, Beijing tried to increase consumption using commercial subsidies to encourage selected goods to buy. In January, the authorities expanded the exchange program with smartphones and more home appliances.

As part of the extended fiscal package, Chinese leaders promised an additional 300 billion yuan from ultra -long special treasury bonds to support consumer subsidies this week at the annual parliamentary meeting.

Bruce Pang, assistant professor, associate professor at the Chinese University of Hong Kong, Friday's data edition emphasized the need to increase efforts to increase national demand in order to ensure stable growth this year.