China's Dec trade data soft, exports decline
|China's trade balance for December, in yuan terms, came in at 3.35bn CNY vs 344.5bn expected and 298bn last. Exports came at -2% y/y vs -3.5% expected and 0.1% last, while imports were +0.6% y/y vs +2.7% expected and 6.7% last.
The release in USD terms will hit the wires within the next hour approximately. The data is a slightly negative input for the Aussie, as exports and imports showed little improvements to end the year.
China's Custom Department recently noted that the country continues to face relatively large difficulties, with the implementation of policies to stabilise foreign trade growth still working their way through.That said, China Customs remains confident that leading indicators show pressure on exports is likely to ease in coming months.
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