Chinese imports miss as trade balance soars

Monday 8 September 2014

Another blow to any hopes of an iron ore rebound this afternoon with Chinese trade data out. Exports were up 9.4% versus 9% expected but imports were down -2.4% versus 3% growth expected:

Check out that Australia-ugly trend in imports! Consequently, the trade balance soared to almost $50 billion:

Good news for China. Good news for the world. Bad news Downunder!

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.