Chinese trade surplus bursts higher

by Chris Becker

This will get banana man trading long stocks and iron ore this afternoon! Trade balance figures for July in China have just printed, via Forexlive:

China trade balance for July: CNy 321.2 bn. A beat for the surplus

  • expected CNY293.55bn, prior was CNY 294.30bn

Exports y/y: +11.2%. A miss on exports

  • expected +14.8%, prior was +17.3%

Imports y/y:  +14.7%. And a miss on imports

  • expected +22.6%, prior was +23.1%
For the January to July period:
  • Trade surplus of 1.6tln yuan

  • Exports +14.4% y/y in yuan

  • Imports +24% in yuan

This chart only includes the June 2017 print in USD, but does show a rebound:

source: tradingeconomics.com

Comments

  1. DingwallMEMBER

    Dalian is down a bit by the looks – perhaps Banana Man was expecting cavendish but got lady fingers ?

    • Thanks! I lost RMB10,000 to a very sophisticated scam a few years ago while living in Beijing. Man, they were good. If my Chinese had been a bit worse I would have been ok. Live and learn. Anyway they just need to come to Australia, no extradition treaty here!