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- China’s Sept Trade Balance: Surplus expands amid surging exports, both beat estimates
China’s Sept Trade Balance: Surplus expands amid surging exports, both beat estimates
China's Trade Balance for September, in Yuan terms, came in at CNY433.19 billion versus CNY386.13 billion expected and CNY376.31 billion last.
The exports rose by 19.9% last month vs. 17.1% expected and 15.7% previous.
Imports increased by 10.1% vs. 22.3% expected and 23.1% prior.
In USD terms,
China reported a bigger-than-expected growth in the trade surplus, as both imports and exports bettered expectations
Trade Balance came in at +66.76B versus +47.6B expected and +58.34B previous.
Exports (YoY): +28.1% vs. +21.5% exp. and +25.6% prior.
Imports (YoY): +17.6% vs. +19.2% exp. and +33.1% last.
Additional takeaways
China Sept trade surplus with the US $42 bln vs $37.68 bln surplus in August.
China Jan-Sept trade surplus with the US at $280 bln.
FX implications
AUD/USD ignores upbeat Chinese trade figures, now keeping its rebound intact just below 0.7350. The spot loses 0.08% on the day, currently trading at 0.7341.
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