China Sep. Trade balance CNY 193.00bn (expected 266.05bn)

Author: Eamonn Sheridan | Category: News

Trade surplus data from China for the September month

China trade balance for September: 193.00bn yaun

  • expected was CNY 266.05bn, prior was CNY 286.5bn

Exports y/y:   +9.0% ....  a big miss (its worse than it looks ... base effects should have seen this y/y result higher, the fact that is actually lower is a poor export performance in September. Exports are up from August though.)

  • expected was +10.9%, prior was +6.9%

Imports y/y: +19.5%

  • expected was +16.5%, prior was +14.4%

In USD terms to follow soon (usually in around half an hour)

Comments from China Customs (General Administration of Customs):

  • Q4 trade still faces unstable, uncertain factors
  • Jan-Sept iron ore imports 817 million tonnes, up 7.1 percent y/y
  • rising commodity prices pushed up China import growth
September iron ore imports 103 million tonnes at a record, up versus 88.7 million tonnes in August (Reuters calculations)
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And, repeating from earlier today:
Next week from China is September inflation (CPI and PPI), Q3 GDP and the National Congress (a twice a decade event - this is big for leadership and reform announcements).