On April 19, the Secretary-General of the Passenger Car Association, Cui Dongshu, stated that from January to March 2026, China's automobile exports reached $40.8 billion, marking a 58% increase. In March alone, auto exports amounted to $13.8 billion, up 44%, indicating strong vitality in the Chinese automotive industry. In contrast, auto parts exports for the first three months of 2026 totaled $24.2 billion, a modest 5% increase, while March saw parts exports of $7.4 billion, a decline of 12%, highlighting significant pressure on the sector. The auto parts industry must align with the development of domestic vehicle manufacturers and shift away from reliance on after-sales systems in Europe and America.
Recent customs data for January to March 2026 shows that China's overall merchandise exports experienced robust growth, reaching $977.6 billion, a 14% year-on-year increase. March exports hit a record high of $321 billion for the month, while imports rose significantly to $269.9 billion, causing the trade surplus to drop sharply to $51.1 billion. Export prices in March were notably high, with 29% of product categories at peak levels and 32% below the median price point, showing substantial improvement from February.
In 2026, China maintained large trade surpluses with Europe and the United States, averaging monthly surpluses of $20 billion with the U.S. and $30 billion with Hong Kong. Surpluses with India and Vietnam also remained strong at around $10 billion per month. Despite global demand weakness influenced by factors such as U.S. interference, China's export performance remained outstanding.
Lithium battery exports from January to March 2026 reached $24 billion, up 55%, with March exports surging to $9.7 billion, a 69% increase. Solar battery exports for the same period amounted to $17.2 billion, growing 34%, and March exports jumped to $9.1 billion, an 84% rise.
China's merchandise exports showed steady and strong growth in 2026, with January-March exports climbing 14% year-on-year to $977.6 billion. March performance was particularly strong, reaching a historic high for the month. The country's trade surplus, however, fell sharply in the first quarter, influenced by rising oil prices, dropping to $51.1 billion in March.
Exports to Europe and the U.S. remained substantial, with monthly surpluses averaging $20 billion with the U.S. and $30 billion with Hong Kong. Despite external challenges, China's export sector performed exceptionally well. Intermediate regions facilitating trade with the U.S. saw the highest export growth, while exports to Russia and other traditional intermediary markets were moderate.
Trade with the U.S. remained robust, with the surplus staying above $300 billion annually in recent years. The January-March 2026 surplus stood at $64.7 billion, supported by strong re-export activity.
Automobile exports were a standout performer, with January-March 2026 exports surging 58% to $40.8 billion. March exports alone increased 44% to $13.8 billion, reflecting strong momentum. Lithium battery exports also grew 55% in the first quarter, while auto parts exports hit a record high.
Export prices varied significantly across product categories. Items such as storage components, fertilizers, container ships, refrigerators, and motorcycles maintained strong prices, while meat, luggage, footwear, and grains saw notable declines. In March, 29% of export categories were at peak price levels, and 32% were below the median, showing marked improvement from February. Rising global prices, particularly due to Middle East tensions, along with RMB appreciation and a weaker U.S. dollar, contributed to higher average export prices but squeezed profit margins.
Lithium battery exports have been a highlight since 2020, growing from $28.4 billion in 2021 to $76.8 billion in 2025. In the first quarter of 2026, exports reached $24 billion, up 55%, with March alone surging 69% to $9.7 billion.
Solar battery exports have been more volatile, peaking at $92.8 billion in 2022 before falling to $56.4 billion in 2025. In the first three months of 2026, exports recovered to $17.2 billion, a 34% increase, with March exports jumping 84% to $9.1 billion.
Automobile exports have grown dramatically, from $34.5 billion in 2021 to $142.4 billion in 2025. In the first quarter of 2026, exports reached $40.8 billion, up 58%, with March exports rising 44% to $13.8 billion.
Auto parts exports face different market dynamics, heavily reliant on the U.S. market. January-March 2026 parts exports grew only 5% to $24.2 billion, with March exports falling 12% to $7.4 billion, underscoring the need for strategic realignment toward domestic vehicle manufacturers.
Motorcycle exports reached $4.9 billion in the first quarter of 2026, up 21%, with March exports flat at $1.4 billion. High oil prices slowed fuel-powered motorcycle exports, but the sector has demonstrated strong competitiveness through electrification and market competition.
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