China’s June Trade Balance: Surplus widens as exports surge but imports growth ease
China's Trade Balance for June, in Yuan terms, came in at CNY332.75 billion versus CNY296 billion last.
The exports surged 20.2% last month vs. 29.6% expected and 18.1% previous.
Imports rose by 24.2% vs. 32.3% expected and 39.5% prior.
In USD terms,
China reported a bigger-than-expected growth in the trade surplus, as imports and exports both outpaced estimates.
Trade Balance came in at +51.5B versus +44.2B expected and +45.53B previous.
Exports (YoY): +32.2% vs. +23.1% exp. and +27.9% prior.
Imports (YoY): +36.7% vs. +30.0% exp. and +51.1% last.
Additional takeaways
China H1 exports to the US +31.7% in yuan terms.
China H1 agricultural imports from the US +120.8%.
China H1 imports from the US +43.9% in yuan terms.
FX implications
AUD/USD shrugs off mixed Chinese trade figures, now keeping its range near weekly highs of 0.7502, up 0.35% 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.
