On April 14, 2026, the first quarter foreign trade data released by the General Administration of Customs injected a shot in the arm into the first year of the “15th Five-Year Plan”.
Data show that in the first quarter of this year, my country’s total import and export value of goods trade reached 11.84 trillion yuan, a year-on-year increase of 15%.
This is not only the first time in history that it has exceeded the 11 trillion yuan mark in a single quarter, but also set a record for the highest growth rate in the same period in the past five years.
In the context of uneven global economic recovery and complex and ever-changing external environment, this heavy “report card” is not only a breakthrough in numbers, but also a strong proof of the strong resilience of China’s economy, the continuous optimization of its foreign trade structure, and its abundant endogenous growth momentum.
Foreign trade, as a key link connecting domestic and international dual circulation, its trend has always been a “barometer” of the macro economy.
This 15% growth rate, far exceeding the general market expectations, is not driven by short-term accidental factors, but the inevitable result of the long-term accumulation and coordinated efforts of policies, industries, markets, and enterprises.
From “world factory” to “intelligent manufacturing highland”, from reliance on a single market to global diversification, China’s foreign trade is undergoing a profound and high-quality change.
Below, we will deeply interpret the logic and opportunities behind this “good start” from four aspects: data details, growth codes, impact on people’s livelihood, and future trends.
1. Panoramic dismantling of the data: the “gold content” of 11.84 trillion miles
11.84 trillion and 15% are the core of this report card, but by in-depth analysis of its internal structure, we can find more key signals about the “improving quality and efficiency” of China’s foreign trade.
(1) Import and export are driven by two wheels, and the import growth rate is even more impressive
The first quarter data shows a pattern of “dual strength in import and export”.
Among them, exports were 6.85 trillion yuan, a year-on-year increase of 11.9%; imports were 4.99 trillion yuan, a year-on-year increase of 19.6%.
What is particularly noteworthy is that the import growth rate (19.6%) is significantly higher than the export growth rate (11.9%), which is nearly 7.7 percentage points higher.
This phenomenon sends two major positive signals: on the one hand, the domestic economic recovery is strong, domestic demand is strong, and the demand for energy, raw materials, high-end equipment and high-quality consumer goods continues to rise; on the other hand, China is opening up its market with greater efforts to allow the world to share China’s development opportunities, and the trade balance is healthier.
(2) The “three new products” lead the way, and the export structure is moving towards green and higher.
The “gold content” of export products continues to increase.
In the first quarter, my country’s exports of mechanical and electrical products were 4.34 trillion yuan, an increase of 18.3%, accounting for 63.4% of the total export value, becoming the absolute main force.
Among them, the “three new things” represented by electric vehicles, lithium batteries, and solar cells have performed particularly eye-catchingly, becoming the core engine driving growth.
- Electric vehicle exports increased by 77.5%: China’s new energy vehicles have fully entered the global market with their advantages in technology, cost and industrial chain. They are not only a means of transportation, but also a business card of “high-end intelligent manufacturing”.
- Lithium battery exports increased by 50.4%: Benefiting from the explosive demand for global energy storage and new energy vehicles, China’s lithium battery industry dominates the international market.
- Exports of solar cells and related components increased by 45.2%: The global green energy transformation is accelerating, and Chinese photovoltaic products have become the first choice of many countries due to their high cost performance.
In addition, the export of high-tech products such as 3D printers and aerospace equipment also achieved rapid growth of 119% and 25.6% respectively.
This clearly shows that China’s exports are accelerating the transformation from traditional labor-intensive to technology-intensive, green and low-carbon.
(3) The “circle of friends” expands and diversified markets diversify risks
In terms of market layout, the diversified strategy of “the East is not bright and the West is bright” has achieved remarkable results and effectively hedged the risks of local market fluctuations.
- The “Belt and Road” is the main engine: imports and exports to countries co-building the “Belt and Road” were 6.06 trillion yuan, an increase of 14.2%, accounting for more than 50% (51.2%).
- ASEAN ranks first: As the largest trading partner, imports and exports with ASEAN increased by 15.4%.
- Emerging markets broke out: imports and exports to Africa increased by 23.7%, and Latin America increased by 15.4%, both growth rates were higher than the overall level.
- Traditional markets are stable: the EU and the UK grew by 14.6% and 13.1% respectively.
This ubiquitous trade pattern has greatly enhanced the risk resistance and stability of China’s foreign trade.
(4) Private enterprises play the main role, and their internal vitality is fully unleashed
In terms of business entities, private enterprises have shown the strongest vitality and continue to sit firmly on the throne of “the largest foreign trade entity”.
In the first quarter, the import and export volume of private enterprises was 6.78 trillion yuan, an increase of 16.2%, accounting for 57.3% of the total.
Whether they are expanding into emerging markets (exports to Africa and Central Asia have grown by more than 30%) or delving into high-end manufacturing, private enterprises have become the main force and source of innovation in foreign trade growth with their flexible mechanisms and keen market acumen.
At the same time, foreign-invested enterprises increased by 16.1%, state-owned enterprises increased by 8%, and various entities worked together to form a solid “basic market” for foreign trade growth.
2. In-depth analysis of growth password: Where does high growth come from?
Behind the 15% growth rate is the concentrated expression of “China’s advantages”.
We can understand the underlying logic of this high growth from four dimensions.
(1) Policy escort: The combination of stabilizing foreign trade and precise efforts
Faced with the complex situation, a series of policies to stabilize foreign trade continue to be implemented and effective, protecting enterprises.
From optimizing export tax rebates and accelerating the progress of tax rebates, to deepening the construction of “single window” and improving customs clearance efficiency (customs clearance time nationwide is further shortened); from increasing export credit insurance support to providing special financing services for small, medium and micro foreign trade enterprises.
These policies have effectively reduced corporate costs, eased financial pressure, stabilized market expectations, and stimulated the enthusiasm of various business entities.
(2) Industrial foundation building: A complete industrial chain creates core competitiveness
China has the most complete and largest industrial system and industrial chain supply chain in the world, which is the greatest confidence in coping with external uncertainties.
From upstream raw materials to downstream end products, strong supporting capabilities ensure the stability and efficiency of production.
While other parts of the world are facing supply chain disruptions and high production costs, China’s manufacturing industry has attracted accelerated orders from around the world with its stable supply, reliable quality, and fast delivery capabilities.
This “industrial chain dividend” is a solid foundation for the rapid growth of foreign trade.
(3) Innovation-driven: Transforming new productive forces into foreign trade advantages
The high growth of foreign trade is essentially the release of new productive forces to the outside world.
In recent years, driven by technological innovation, strategic emerging industries such as new energy, artificial intelligence, and high-end equipment have emerged rapidly.
The products of these industries have high technical content, high added value, are in line with global green and intelligent development trends, and have strong differentiated competitiveness in the international market.
The explosive growth of the “three new things” is a direct reflection of the leap from Made in China to Made in China Intelligent Manufacturing and Creation in China.
(4) Domestic demand drives: the huge domestic market develops simultaneously
The rapid growth of imports (19.6%) reflects the strong recovery of the domestic demand market.
Domestic industrial upgrading requires the import of a large amount of advanced equipment and key components (for example, the import of integrated circuits surged by 39.8%); the upgrading of household consumption requires more high-quality consumer goods and specialty agricultural products.
Strong domestic demand not only supports the growth of imports, but also promotes technological progress and product upgrading of domestic industries through “introduction”, forming a healthy pattern of mutual promotion and virtuous cycle of import and export.
3. Positive transmission: How does the “good start” of foreign trade benefit people’s livelihood?
The growth of macro data will eventually be transformed into real dividends for people’s livelihood.
This foreign trade report card is closely related to everyone’s life.
(1) Stabilize employment, increase income, and build a solid bottom line for people’s livelihood
Foreign trade is related to a large number of upstream and downstream industrial chains and is a “reservoir” for employment.
Strong growth in imports and exports directly means that factory orders are full and production lines are operating at full capacity.
This not only stabilizes the jobs of tens of millions of foreign trade-related employees, but also drives the prosperity of supporting service industries such as logistics, warehousing, ports, and finance.
As the company’s performance improves, employees’ income levels and welfare benefits will also have a basis for improvement, providing a solid guarantee for stabilizing employment and protecting people’s livelihood.
(2) Enrich choices, stabilize prices, and improve consumer quality
The rapid growth of imports has given domestic consumers more choices to “buy globally.”
From high-quality fresh food and daily chemical products to advanced home appliances, digital appliances, and automobiles, a wide variety of imported goods have flooded into the domestic market, intensifying market competition. This not only allows consumers to buy more diverse and higher-quality products, but also helps stabilize the prices of related goods and improve the overall quality of life and happiness of residents.
(3) Industrial upgrading, opportunities emerging, and broadening development space
The optimization of foreign trade structure is profoundly affecting the domestic industrial pattern.
The expansion of high-end industries such as the “New Three Industries” has created a large number of high-quality jobs in R&D, design, technology, management, etc., providing a broader career development space for college graduates and technical talents.
At the same time, the prosperity of foreign trade has also led to the vigorous development of new business formats such as cross-border e-commerce, overseas warehouses, and international logistics, providing new tracks and opportunities for ordinary people to start businesses and have flexible employment.
4. Future Outlook: Steady progress, high-quality development is the main theme
The “good start” in the first quarter has laid a good foundation for the development of foreign trade throughout the year, but we also need to look at opportunities and challenges objectively.
(1) Opportunities outweigh challenges and growth is sustainable
In the medium to long term, the factors supporting the improvement of foreign trade remain solid.
Policy support will continue to increase to help companies solve their problems; industrial upgrading is in the ascendant, and new momentum will continue to be released; the market diversification strategy is further advanced, and emerging markets have huge potential; domestic demand is recovering steadily, and import potential is expected.
These factors jointly determine that China’s foreign trade is expected to continue to maintain a development trend of steady improvement and improvement in quality.
(2) Treat fluctuations rationally and high-quality development is the core
Of course, external challenges such as the tortuous nature of global economic recovery, geopolitical conflicts, and trade protectionism still exist.
In the future, foreign trade growth may fluctuate normally due to factors such as base and seasonality, but this will not change the main line of high-quality development.
China’s foreign trade will pay more attention to the technological content, brand value and green and low-carbon export products, pay more attention to the balance of imports and exports and mutual benefit and win-win results for trading partners, and steadily move from a “big trading country” to a “powerful trading country”.
5. Conclusion: Eye-catching data demonstrates China’s confidence
11.84 trillion yuan, a growth rate of 15%. This set of data is a vivid footnote that China’s economy is moving steadily forward on a new journey.
It not only demonstrates the distinctive characteristics of China’s foreign trade with a stable foundation, vitality and strong momentum, but also conveys to the world China’s firm determination to adhere to a high level of opening up and share development opportunities with the world.
From a macro level, it is a “stabilizer” for economic growth; from a micro level, it is a “booster” for a better life for thousands of households.
This excellent starting report card gives us confidence in the economic development throughout 2026.
#Topic Discussion# How do you feel about the foreign trade business around you this year?
Have you ever felt that there are more high-quality imported goods and a wider choice?
Welcome to talk about the economic temperature you feel in the comment area!
