China’s July trade balance (CNY): Surplus unexpectedly shrinks to 176.96bn as imports jump 20.9%

Dhwani Mehta FXStreet

China's trade balance for July, in Yuan terms, came in at CNY 176.96bn versus CNY 280.9bn expected and CNY 261.90bn last. Exports came at +6.0% y/y vs +6.4% expected and +3.1% last, while imports were +20.9% y/y vs +6.9% expected and +6.0% last.

Analysts at Barclays expected, “export growth to slow as US-China trade tensions have escalated and the import tariff hike by the US on Chinese goods has come into effect. Import growth is likely to accelerate in year-on-year terms as Chinese importers could have postponed their shipments to July given the tariff cuts on certain imports (such as autos and daily commodities) came into effect on 1 July.”

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.

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