China’s August Trade Balance: Surplus, exports miss estimates amid imports blowout
|China's Trade Balance for August, in Yuan terms, came in at CNY376.3 billion versus CNY495.51 billion expected and CNY362.67 billion last.
The exports surged 15.7% last month vs. 22.5% expected and 8.1% previous.
Imports rose by 23.1% vs. 9.1% expected and 16.1% prior.
In USD terms,
China reported a bigger-than-expected growth in the trade surplus, as both imports and exports bettered expectations
Trade Balance came in at +58.34B versus +51.05B expected and +56.59B previous.
Exports (YoY): +25.6% vs. +17.1% exp. and +19.3% prior.
Imports (YoY): +33.1% vs. +26.8% exp. and +28.1% last.
Additional takeaways
China's August trade surplus with the United States was $37.68 bln vs $35.4 billion surplus in July.
China's Jan-Aug trade surplus with the United States $237.99 billion.
FX implications
AUD/USD ignores mixed Chinese trade figures, now keeping its range near two-month highs of 0.7456, up 0.13% on the day.
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