China's exports rise unexpectedly

China’s exports unexpectedly rose in March, its first gain in six months. Exports rose 14.8 percent in dollar terms last month from a year earlier, while imports fell 1.4 percent, the customs office said in Beijing on Thursday. That left a trade surplus of $88.2 billion for the month. Economists in a Bloomberg survey had forecast exports falling 7.1 percent and imports falling 6.4 percent. Rising export demand over the past three years has been a strong boost for the world’s second-largest economy, helping offset weak domestic spending caused by a sluggish housing market and zero COVID restrictions. Exports have been set to shrink since late 2022 as demand from the United States, the European Union and other countries slowed. China’s foreign trade in the first quarter showed relatively strong resilience and made a steady start to the year with signs of recovery, Lyu Daliang, a spokesman for the customs office, told reporters in Beijing. However, he added that difficulties and challenges remain due to high global inflation, slowing growth in major economies, increasing protectionism and geopolitical risks.