China Dec. trade balance CNY 395bn (expected 345bn CNY)

Author: Eamonn Sheridan | Category: News

Earlier trade data from China:

December 2018 data now:

Yuan terms

  • China trade balance comes in at CNY 395bn, expected CNY 345bn, prior was CNY 306bn
  • Exports 0.2% y/y, expected 6.6%, prior was 10.2%... BIG MISS
  • Imports -3.1% y/y, expected 12.0%, prior was 7.8% … even bigger miss

USD terms

  • China trade balance USD 57.06bn, expected $51.6bn, prior was $44.7bn
  • Exports -4.4% y/y, expected 2.0%, prior 5.4%
  • Imports -7.6% y/y, expected 4.5%, prior was 3.0%
AUD is trading lower after the trade data from China

The export figures are a focus and they are poor indeed. But save some space in the barf bag for the import results, they are terrible - huge miss on these. Demand in China has been showing evidence of slowing … this is a nail in the coffin. 




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