China’s Feb trade data (Yuan terms): A big miss on Imports jump
|China's trade balance for February, in Yuan terms, came in at -60.4 billion CNY vs 172.5bn expected and 354.5bn last. Exports came at 4.2% y/y vs 14.6% expected and 15.9% last, while imports were +44.7% y/y vs 23.1% expected and 25.2% 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 disappoint markets and re-ignite concerns over China’s external demand.
The combined January-February trade balance (Yuan terms) stands at:
Surplus of 293.7bn CNY
Jan-Feb Imports +34.2%
Jan-Fen exports +11% y/y
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