- China trade balance USD comes in at 80.6 billion versus expected 70.6 billion.
- Previous 70.62 billion
- Exports YoY felt -14.5% versus expectations -12.5% (previous -12.4%)
- Imports YoY fell -12.4% vs expected -5.0% (previous -6.8%)
Although the surplus was higher, the mix of both imports and exports declining is not a good number.
Other details:
- China July trade balance +575.7 bln yuan versus 491.25 billion yuan
- China Jan-July dollar-denominated exports -5.0% y/y
- China Jan-July dollar-denominated imports -7.6% y/y
- China Jan-July yuan-denominated exports +1.5 % y/y
- China Jan-July iron ore imports up 6.9% at 669 mln metric tons
- China Jan-July trade balance +$489.57 bln
- China Jan-July yuan-denominated imports -1.1 % y/y
- China Jan-July trade balance +3.39 trln yuan