China’s Oct trade balance (CNY): Exports and imports jump – a big beat

Dhwani Mehta FXStreet

China's trade balance for October, in Yuan terms, came in at CNY 233.63bn versus CNY 237bn expected and CNY 213.23bn last. Exports came at +20.1% y/y vs. +12.0% expected and +17.0% last, while imports were +26.3% y/y vs. +14.0% expected and +17.4% last.

Analysts at Nomura expected, “export growth to moderate, but remain relatively solid at 13.0% y-o-y in October after higher-than-expected growth in September. Import growth is likely to slow more visibly.”

Key Notes:

In Yuan terms, exports to the US are up 8.7% y/y (whole YTD, Jan - Oct 2018).

Imports from the US +3.7% y/y for that same period.

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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