China 1H 2019 exports seen rising by 6.1% relative to a year ago in yuan terms
Official data released by China customs
There doesn't seem to be any details on a monthly breakdown for June itself but the data is coming in for overall 1H 2019. Here are the details for that:
- 1H 2019 trade surplus of ¥1.23 trillion
- 1H 2019 exports +6.1% y/y (in yuan terms)
- 1H 2019 imports +1.4% y/y (in yuan terms)
Of note, total trade with the US is seen down by 9% y/y to ¥1.75 trillion during the first half of this year. China customs say that the country's trade is facing a flurry of challenges and that the external environment remains complex.
Despite some improvement in trade conditions relative to a year ago, the slight increase in domestic demand and exports isn't suggestive of an economy firing on all cylinders - especially not China compared to recent history.
That puts the Q2 GDP data set to be released on Monday on course for its weakest annual growth (expected +6.2% y/y) in 27 years.