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- China’s Trade Balance: Surplus shrinks in September on big exports slump
China’s Trade Balance: Surplus shrinks in September on big exports slump
China's Trade Balance for September, in Chinese Yuan (CNY) terms, came in at CNY582.62 billion, narrowing from the previous figure of CNY649.34 billion.
Exports rose 1.6% YoY in September vs. 8.4% in August. The country’s imports arrived at +0.7% YoY in the same period vs. 0% booked previously.
In US Dollar (USD) terms, China’s trade surplus widened in September.
Trade Balance came in at +81.7B versus +89.8B expected and +91.02B previous.
Exports (YoY): 2.4% vs. 6.0% expected and 8.7% previous.
Imports (YoY): 0.3% vs. 0.9% expected and 0.5% last.
Additional takeaways
China Jan-September CNY-denominated Exports +6.2% YoY.
China Jan-September CNY-denominated Imports +4.1% YoY.
China Jan-September Trade Surplus with the US arrived at +257.87$B.
China September Trade Surplus with the US was $33.33B vs. $33.81B in August.
FX implications
AUD/USD keeps the red below 0.6750 after China’s trade data. The pair is down 0.27% on the day, trading at 0.6728, at the time of writing.
(This story was corrected on October 14 at 09:25 GMT to say that China's Trade Balance for September in CNY terms narrowed in September, not expanded.)
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