China's foreign trade volume surged by a significant 29.2 percent year-on-year to reach 8.47 trillion yuan ($1.29 trillion) in the first quarter of 2021, getting off to a robust start fueled by rising global demand for a wide variety of Chinese commodities from daily necessities, medical gear, machinery to work-from-home electronic devices.
Analysts expect China's foreign trade to continue the upward streak in the second quarter, but could pare down in growth rates, as geopolitical uncertainties and an overall price elevation in raw materials and bulk commodities are set to drive up the cost.
They predicted that China's whole-year trade growth will hover around 9-10 percent, once again underpinning the country's rapid economic rebounding from the coronavirus pandemic in 2020.
In the first three months of 2020, China's foreign trade slumped 6.4 percent year-on-year to merely 6.57 trillion yuan, due to a very strict lockdown imposed by China's central government to stifle spreading of the novel coronavirus.
