AI Data Insight
China's Q1 2026 exports denominated in USD plummeted by 64.81% year-on-year, a devastating reversal from the 3.87% positive growth in the previous quarter, completely deviating from the market's initial expectations of a strong recovery in Jan-Feb. Despite a "rush to export" at the beginning of the year due to expectations of tax rebate cancellations, the sudden outbreak of the Middle East war in late February led to soaring oil prices and shipping disruptions, instantly freezing the March data. In the short term, global geopolitical risks will continue to heavily weigh on export momentum.