China’s April Trade Balance: Trade surplus expands, imports and exports show a solid increase
China's Trade Balance for April, in Yuan terms, came in at CNY276.5 billion versus CNY87.98 billion last.
The exports in the fourth month of 2021 surged 22.2% vs. 30.7% expected and 20.7% last.
Imports jumped by 32.2% vs. 12.6% expected and 27.7% prior.
In USD terms,
China reported a massive increase in the trade surplus, as imports and exports both surged above forecasts.
Trade Balance came in at +42.85B versus +28.10B expected and +13.80 previous.
Exports (YoY): +32.3% vs. +24.1% exp. and +30.6% last.
Imports (YoY): +43.1% vs. +42.5% exp. and +38.1% last.
Additional takeaways
China Jan-April exports to the US +49.3% in yuan terms.
China Jan-April imports from the US +53.3% in yuan terms.
China Jan-April trade surplus with the US at 653.89B yuan.
FX implications
AUD/USD shrugs off upbeat Chinese trade figures, now trading at daily lows of 0.7774, down 0.05% on the day.
The spot failed to hold the RBA’s Monetary Policy Statement and stronger Chinese Caixin Services PMI-led gains to five-day highs of 0.7792.
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.
