China May 2022 trade balance: CNY 502.89bn (expected 448bn)

Trade data from China for May. Lockdown restrictions eased back in the month.

China trade balance CNY 502.89BN:

• expected CNY 448.9bn, prior was CNY 325.1bn

Exports +15.3% y/y:

• expected +13.1%, prior was +1.9%

Imports +2.8% y/y:

• expected 2.0%, prior was 0.0%

USD terms
China trade balance: US$78.76bn

• expected $58.0bn, prior was $51.1bn

Exports: +16.9% y/y

• expected 8.0%, prior 3.9%

Imports: +2.8% y/y

• expected -9%, prior was -2%

A much improved performance for trade, inbound and outbound, for the month of May compared with April. This is a good sign for improvement ahead for the Chinese economy, which will be welcome domestically and globally.

As p[art of the data is this:

January - May oil imports down 1.7% y/y. That's not a lot given the extent of the lockdwon impacts and is a bullish sign for oil as China's economy incrementally reopens in the weeks and months to come.

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term