China’s April Trade Balance: Surplus expands amid another exports surge
China's Trade Balance for April, in Chinese Yuan terms, came in at CNY618.44 billion versus CNY637.16 billion expected and CNY601.01 billion last.
The exports jumped by another 16.8% in the reported period vs. 10.5% expected and 23.4% previous.
The country’s imports fell by 0.8% vs. 6.1% prior. The market forecast was for a 4.2% increase.
In US Dollar terms, China reported a bigger-than-expected growth in the trade surplus as imports slump in the reported period.
Trade Balance came in at +90.21B versus +71.6B expected and +88.19B previous.
Exports (YoY): 8.5% vs. 8.0% exp. and 14.8% prior.
Imports (YoY): -7.9% vs. 0% exp. and -1.4% last.
FX implications
AUD/USD is holding the lower ground on mixed Chinese trade figures. The spot is down 0.05% on the day, trading at 0.6778 as of writing.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
