China’s August Trade Balance: Surplus, exports miss estimates amid imports blowout
China's Trade Balance for August, in Yuan terms, came in at CNY376.3 billion versus CNY495.51 billion expected and CNY362.67 billion last.
The exports surged 15.7% last month vs. 22.5% expected and 8.1% previous.
Imports rose by 23.1% vs. 9.1% expected and 16.1% prior.
In USD terms,
China reported a bigger-than-expected growth in the trade surplus, as both imports and exports bettered expectations
Trade Balance came in at +58.34B versus +51.05B expected and +56.59B previous.
Exports (YoY): +25.6% vs. +17.1% exp. and +19.3% prior.
Imports (YoY): +33.1% vs. +26.8% exp. and +28.1% last.
Additional takeaways
China's August trade surplus with the United States was $37.68 bln vs $35.4 billion surplus in July.
China's Jan-Aug trade surplus with the United States $237.99 billion.
FX implications
AUD/USD ignores mixed Chinese trade figures, now keeping its range near two-month highs of 0.7456, up 0.13% on the day.
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.
