China’s Trade Balance: Exports decline sharply in March
China's Trade Balance for March, in Chinese Yuan terms, came in at CNY415.86 billion, widening from the previous figure of CNY281.97 billion.
Exports fell 3.8% YoY in March vs. 10.6% seen in February. The country’s imports rose 2% YoY in the same period vs. -3.9% registered previously.
In US Dollar terms, China’s trade surplus shrank in March.
Trade Balance came in at +58.55B versus +70.20B expected and +125.16B previous.
Exports (YoY): -7.5% vs.-3.0% expected and 7.1% previous.
Imports (YoY): -1.9% vs. 1.2% expected and 3.5% last.
Additional takeaways
China Jan-March USD-denominated exports +1.5% YoY.
China Jan-March USD-denominated Imports +1.5% YoY.
China Jan-March USD-denominated trade balance 183.66 billion.
China March trade surplus with the United States $22.94 billion.
China Jan-March trade surplus with the United States $70.22 billion.
FX implications
AUD/USD is holding the recent losses on mixed China’s trade figures. The pair is down 0.32% on the day, trading at 0.6514, at the time 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.
