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- China’s Trade Balance: Surplus widens more than expected in September
China’s Trade Balance: Surplus widens more than expected in September
China's Trade Balance for September, in Chinese Yuan terms, came in at CNY558.74 billion versus expectations of CNY510 billion and CNY488 billion previous.
Exports dropped 0.6% YoY in September vs. -3.2% seen in August. The country’s imports declined 0.8% YoY in the reported month vs. -1.6% prior.
In US Dollar terms, China’s trade surplus shrunk more than expected in September.
Trade Balance came in at +77.71B versus +70B expected and +68.36B previous.
Exports (YoY): -6.2% vs. -8.3% exp. and -8.8% previous.
Imports (YoY): -6.2% vs. -6.0% exp. and -7.3% last.
Additional takeaways
China Jan-Sept Yuan-denominated exports +0.6% YoY.
China Jan-Sept Yuan-denominated Imports -1.2% YoY.
China Jan-Sept USD-denominated exports -5.7% YoY.
China Jan-Sept USD-denominated Imports -7.5% YoY.
China Jan-Sept Trade Balance +$630.3 Bln.
FX implications
AUD/USD is off the highs but remains well bid near 0.6325 on encouraging China’s trade figures. The pair is up 0.17% on the day, tradas of writing.
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