China’s January-February Trade Balance: Surplus balloons as imports plummet
|China's Trade Balance for January-February, in Chinese Yuan terms, came in at CNY810.3 billion versus CNY550.1 billion last.
The exports jumped by 0.9% in the reported period vs. -0.5% previous.
The country’s imports slumped by 2.9% vs. 2.2% prior.
In US Dollar terms,
China reported a solid jump in the trade surplus, as imports and exports showed a slump during the January-February period.
Trade Balance came in at +116.8B versus +81.8B expected and +78B previous.
Exports (YoY): -6.8% vs. -9.4% exp. and -9.9% prior.
Imports (YoY): -10.2% vs. -5.5% exp. and -7.5% last.
FX implications
AUD/USD keeps losses on mixed Chinese trade figures. The spot is losing 0.26% on the day, trading at 0.6709 as of writing.
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