China’s Trade Balance: Surplus expands in November amid slowing imports
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China's Trade Balance for November, in Chinese Yuan terms, came in at CNY490.82 billion, up from the previous figure of CNY405.47 billion.
Exports jumped 1.7% YoY in November vs. -3.1% seen in October. The country’s imports rose 0.6% YoY in the reported month vs. 6.4% last.
In US Dollar terms, China’s trade surplus grew in November.
Trade Balance came in at +68.39B versus +58.10B expected and +56.53B previous.
Exports (YoY): 0.5% vs. -0.8% exp. and -6.4% previous.
Imports (YoY): -0.6% vs. 3.0% exp. and 3.0% last.
Additional takeaways
China Jan-Nov USD-denominated exports -5.2% YoY.
China Jan-Nov USD-denominated Imports -6.0% YoY.
China Jan-Nov Trade Balance +$748.13 Bln.
FX implications
AUD/USD is holding lower ground on mixed China’s trade figures. The pair is down 0.21% on the day, trading at 0.6533 at the time of writing.
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