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- China’s Trade Balance: Surplus expands in November amid slowing imports
China’s Trade Balance: Surplus expands in November amid slowing imports
China's Trade Balance for November, in Chinese Yuan terms, came in at CNY490.82 billion, up from the previous figure of CNY405.47 billion.
Exports jumped 1.7% YoY in November vs. -3.1% seen in October. The country’s imports rose 0.6% YoY in the reported month vs. 6.4% last.
In US Dollar terms, China’s trade surplus grew in November.
Trade Balance came in at +68.39B versus +58.10B expected and +56.53B previous.
Exports (YoY): 0.5% vs. -0.8% exp. and -6.4% previous.
Imports (YoY): -0.6% vs. 3.0% exp. and 3.0% last.
Additional takeaways
China Jan-Nov USD-denominated exports -5.2% YoY.
China Jan-Nov USD-denominated Imports -6.0% YoY.
China Jan-Nov Trade Balance +$748.13 Bln.
FX implications
AUD/USD is holding lower ground on mixed China’s trade figures. The pair is down 0.21% on the day, trading at 0.6533 at the time of writing.
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