- Analytics
- News and Tools
- Market News
- China: Trade figures disappointed in August – UOB
China: Trade figures disappointed in August – UOB
Economist at UOB Group Ho Woei Chen, CFA, comments on the latest release of trade balance results in China.
Key Takeaways
“Both China’s export and import growth rates moderated by a sharper-than-expected pace in Aug to its slowest in four months. The month saw disruptions from drought and power crunch in some cities as well as higher COVID infections and resultant increase in movement curbs.”
“In USD-terms, exports rose 7.1% y/y in Jul (Bloomberg est: 13.0% y/y; Jul: 18.0% y/y) while imports barely grew as it came in at 0.3% y/y (Bloomberg est: 1.1% y/y; Jul: 2.3% y/y).”
“Export growth is likely to continue on a moderating trend for the rest of the year due to the high comparison base and weakening external demand outlook while tightening COVID curbs ahead of the 20th Party Congress (16 Oct) could also increase disruptions to the businesses in the next two months.”
“In Jan-Aug, exports and imports were up 13.5% y/y and 4.6% y/y respectively. We maintain our forecast for a more moderate growth of 10-12% for export and around 5% for import this year.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
