China’s Dec Trade Balance: Surplus expands amid a slump in imports
China's Trade Balance for December, in Yuan terms, came in at CNY 604.69 billion versus CNY545.90 billion last.
The exports rose by 17.3% last month vs. 61.6% previous.
Imports increased by 16% vs. 26% prior.
In USD terms,
China reported a bigger-than-expected growth in the trade surplus, as imports dropped while exports outpaced expectations.
Trade Balance came in at 94.46B versus +74.50B expected and +71.72B previous.
Exports (YoY): +20.9% vs. +20% exp. and +22% prior.
Imports (YoY): +19.5% vs. +26.3% exp. and +31.4% last.
Additional takeaways
China Dec trade surplus with the US $39.23B.
China 2021 trade surplus with US $396.58B.
China 2021 yuan-denominated exports +21.2%.
China 2021 yuan-denominated imports +21.5%.
China 2021 dollar-denominated imports +30.1%.
China 2021 dollar-denominated exports +29.9%.
FX implications
AUD/USD ignores mixed Chinese trade figures, keeping its rebound intact around 0.7275. The spot sheds 0.15% on the day, with all eyes on the US Retail Sales data.
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.
