China trade balance: Imports, exports pick up in March

Ivan Delgado Independent Analyst

China March trade balance came at 194.6bn CNY vs expected 203.65bn and prior of 209.50b, with exports up 18.7% y/y (in yuan terms) vs +14.9% y/y expected and prior of -20.6%, while imports were down 1.7% y/y (in yuan terms) vs -4.8% y/y expected and -8.0% last.

A break down in imports data shows March oil products imports was down by 1.9% y/y, Jan-Mar crude oil imports +13.4 pct y/y, Jan-Mar iron ore imports +6.5 pct y/y, Jan-Mar copper imports +30.1 pct y/y, while Jan-Mar coal imports -1.2 pct y/y, according to customs data.

According to Chinese customs, "foreign trade still faces relatively big difficulties", adding that "exports likely to gradually stabilise in Q2."

Author

Ivan Delgado

Independent Analyst

Established in the Asian continent since 2009, Ivan studied a degree in Business at the University Pompeu Fabra (Barcelona), while also earning a postgraduate degree in Business Administration.

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