China’s January-February Trade Balance: Surplus balloons as imports plummet
China's Trade Balance for January-February, in Chinese Yuan terms, came in at CNY810.3 billion versus CNY550.1 billion last.
The exports jumped by 0.9% in the reported period vs. -0.5% previous.
The country’s imports slumped by 2.9% vs. 2.2% prior.
In US Dollar terms,
China reported a solid jump in the trade surplus, as imports and exports showed a slump during the January-February period.
Trade Balance came in at +116.8B versus +81.8B expected and +78B previous.
Exports (YoY): -6.8% vs. -9.4% exp. and -9.9% prior.
Imports (YoY): -10.2% vs. -5.5% exp. and -7.5% last.
FX implications
AUD/USD keeps losses on mixed Chinese trade figures. The spot is losing 0.26% on the day, trading at 0.6709 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.
