- prior was -22.99bn
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Exports for March: -6.6% y/y
- expected +4.8%
- prior was -18.1%
Imports for March: -11.3% y/y
- expected +3.9%
- prior was 10.1%
–
I would think that big decline in imports should be a negative input for the AUD
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China customs authority comments:
- Says both exports and imports will recover growth and enter a stable growth stage
- This year the external environment will be better for trade\
- Relatively optimisitc that exports in Q2 will be better than in Q1
- Still possible to achieve this year’s 7.5% trade growth target
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ADDED: … Note …
- China March exports to Hong Kong & Taiwan fell 42% due to over-invoicing a year ago
- Exports to the rest of the world were +8%
