We got the 'yuan terms' earlier: China trade balance for January: CNY 135.8bn (expected CNY 330.00bn)
Yes, a miss on the surplus but check out the surge in exports and enormous surge in imports ... and also keep in mind the impact of Lunar New Year ... a regular seasonal impact at this time year. February data is awaited and the data will be averaged across the two.
OK, in US dollar terms now:
January trade balance $20.34bn
- expected $54.65bn, prior was $54.69bn
Exports +11.1% y/y ... beat
- expected 10.7%, prior was 10.9%
Imports +36.9% y/y ... huge beat
- expected 10.6%, prior was 4.5%
mtc more to come
