China pulls another trade shocker

Monday, 9 November 2015

China trade balance was out yesterday and shocked markets again with the ferocity of its slowdown. Exports were down -6.9% year on year versus -3.2% hoped for and imports were down -18.8% year on year versus the -15.2% dreamed of:

The combination coughed up another huge trade surplus of $61.4 billion:

From Reuters, now we know why Port Hedland shipments fell in October, China doesn’t want it:

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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.