China's Q1 foreign trade up 15%, fastest in 5 years

China's foreign trade got off to a strong start this year, with total imports and exports reaching 11.84 trillion yuan ($1.63 trillion) in the first quarter, up 15% year on year, according to officials on Tuesday.

The figure marks the first time that first-quarter trade has exceeded 11 trillion yuan, while the quarterly growth rate is also the fastest in nearly five years, signaling solid momentum in external trade, said Wang Jun, deputy head of China's General Administration of Customs.

Breaking down the data, exports totaled 6.85 trillion yuan, up 11.9%, while imports rose 19.6% to 4.99 trillion yuan.

Private enterprises continued to play a leading role in foreign trade. In the first quarter, private firms recorded 6.78 trillion yuan in imports and exports, representing a 16.2% year-on-year increase. Their share of China's total foreign trade rose further to 57.3%, underscoring their growing importance in driving trade growth.

Meanwhile, foreign-invested enterprises posted 3.47 trillion yuan in imports and exports, an increase of 16.1% from a year earlier, recording growth for eight consecutive quarters.

China's trade diversificat  ion also continued to strengthen. In the first quarter, trade between China and Belt and Road partner countries was up 14.2% year on year, accounting for 51.2% of China's total imports and exports. Trade with ASEAN and Latin America both grew by 15.4%.

The first-quarter data point to a strong start for China's foreign trade this year, underpinned by continued market diversification, said Wang, adding that China will further advance opening up.

Wang added that China is not only willing to serve as the "world's factory" but also as the "world's market."

Middle East tensions have limited impact on China's trade, expert says

Tu Xinquan, director of the China Institute for World Trade Organization Studies at the University of International Business and Economics, said the headline numbers stood out not only for their strength but also for their composition. "From the Q1 data, import growth outpacing export growth is actually a relatively rare situation," Tu said, noting that imports rose by nearly 20%, well above export growth.

Tu attributed the import surge to a broad-based rebound that has been building since late last year. The momentum is evident across several indicators, he said, adding that "the recovery is still very strong." Exports also grew by more than 10%, reflecting "a very active growth trend" in overall trade.

Looking ahead, Tu acknowledged that new geopolitical uncertainties, including escalating tensions in the Middle East, could trigger swings in equities and exchange rates. However, he argued that the direct impact on China should remain limited. "Overall, the impact on China's economy is relatively small," Tu said, citing stable energy supply conditions and the rapid development of domestic green energy as key buffers.

He also suggested that external shocks could reshape China's export mix. As higher energy prices squeeze industrial production in some economies, supply shortages may emerge. "China's supply capacity is very strong," Tu said, adding that this could improve pricing power and lead to "stable volumes but faster growth in export value."

Despite ongoing uncertainties, Tu said he remains optimistic about the near-term outlook, pointing to continued import demand and China's complete industrial chain and large market as sources of resilience and "certainty" for both China and global trade.