Chinese surplus misses expectations, Exports & Imports jump

China customs published their latest report on the Chinese trade, showing that the country’s trade surplus missed expectations, while both exports and imports came in much stronger-than expectations in yuan terms.

Key Details in Yuan terms:

China Trade Balance (Aug): CNY 346 Bln (exp CNY 373 Bln prev CNY 342.8 Bln)

China Exports CNY (YoY) Aug: +5.9% (exp +2.9%, prev +2.9%)

China Imports CNY (YoY) Aug: +10.8% (exp +0.7% prev -5.7%)

While in USD terms,

China Trade Balance (Augl): USD 52.0 Bln (exp USD 58.85 Bln prev USD 52.31 Bln)

China Exports USD (YoY) Aug: -2.8% (exp -4%, prev -4.4%)

China Imports USD (YoY) Aug: +1.5% (exp -5.4% prev -12.5%)