China’s trade surplus narrowed to USD 13.8 billion in March 2021, from USD 20.0 billion in the same month of the previous year and far below market expectations of USD 52.05 billion, amid an improving global demand and higher commodity prices. Exports soared 30.6 percent and imports jumped 38.1 percent to an all-time high, at the fastest pace since February 2017. The country’s trade surplus with the US declined to USD 21.37 billion in March from USD 23.01 billion in February. Considering the first three months of the year, the trade surplus widened sharply to USD 117.1 billion, from USD 12.8 billion in the same period of 2020, as exports and imports soared from last year’s record slumps.