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- China’s December Trade Balance: Surplus expands amid mixed exports, imports data
China’s December Trade Balance: Surplus expands amid mixed exports, imports data
China's Trade Balance for December, in Chinese Yuan terms, came in at CNY550.1 billion versus CNY494.3 billion last.
The exports dropped by 0.5% last month vs. 0.9% previous.
The country’s imports rebounded by 2.2% vs. -1.1% prior.
In US Dollar terms,
China reported a widening of the trade surplus, as exports and imports showed a smaller-than-expected slump.
Trade Balance came in at +78B versus +76.2B expected and +69.84B previous.
Exports (YoY): -9.9% vs. -10.0% exp. and -8.7% prior.
Imports (YoY): -7.5% vs. -9.8% exp. and -10.6% last.
Meanwhile, China's trade surplus with the United States was $29.5 billion in December, compared with a $24.33 billion surplus in November.
FX implications
AUD/USD remains under heavy selling pressure on mixed Chinese trade figures, keeping its range around 0.6950. The spot is losing 0.28% on the day, as of writing.
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