Data for the January to March quarter out from China (all in yuan terms)

  • Trade balance is a 326.1bn yuan surplus
  • Exports +7.4% y/y
  • Imports +11.7%

Strong figures for Q1, but of course the trade dispute with US may weigh on exports going into the next quarter.


For March month alone, CNY terms:

  • Exports -9.8% expected +8.0%, prior +36.2%
  • Imports +5.9% expected +7.5%, prior -0.2%

And, added further, in USD terms for March:

  • Exports -2.7% y/y
  • Imports +14.4% y/y
  • Balance a deficit of USD 4.98bn (first monthly deficit in USD terms since February of 2017)