China’s June Trade Balance: Surplus widens as exports surge but imports growth ease
|China's Trade Balance for June, in Yuan terms, came in at CNY332.75 billion versus CNY296 billion last.
The exports surged 20.2% last month vs. 29.6% expected and 18.1% previous.
Imports rose by 24.2% vs. 32.3% expected and 39.5% prior.
In USD terms,
China reported a bigger-than-expected growth in the trade surplus, as imports and exports both outpaced estimates.
Trade Balance came in at +51.5B versus +44.2B expected and +45.53B previous.
Exports (YoY): +32.2% vs. +23.1% exp. and +27.9% prior.
Imports (YoY): +36.7% vs. +30.0% exp. and +51.1% last.
Additional takeaways
China H1 exports to the US +31.7% in yuan terms.
China H1 agricultural imports from the US +120.8%.
China H1 imports from the US +43.9% in yuan terms.
FX implications
AUD/USD shrugs off mixed Chinese trade figures, now keeping its range near weekly highs of 0.7502, up 0.35% on the day.
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