- prior was $33.8bn
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- China exports for December: +4.3% y/y (vs. expected +5.0%), prior was +12.7%. Export data has been so tainted by fake invoicing its hard to know what real and whats not. Maybe the crackdown is having an impact? And before the ‘China can do no wrong’ crowd berate me for mentioning fake invoicing, the concern comes from their own State Administration of Foreign Exchange. Stick that in your pipe and smoke it.
- China imports for December: +8.3% y/y (vs. expected +5.0%), prior was +5.3%.
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AUD is barely responsive, down a few points only
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Added:
- Crude oil imports rose 4% y/yin 2013 (from a near 7% increase in 2012)
- Iron ore imports climbed 10.2% y/y in 2013
- Total coal imports for the full year up 13.4% y/y
