Published On: Fri, Oct 12th, 2018

China September trade balance, surplus of 213.2 bn yuan

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Yuan terms Chinese trade surplus for September 2018

China trade balance CNY 213.2bn  

  • expected CNY 136.2bn, prior was CNY 179.75bn 

Exports +17.0% y/y … feel the beat!

  • expected 9.2%, prior was 7.9% 

Imports +17.4% y/y … more beat 

  • expected 15.2%, prior was 18.8%

Imports from the US are up 1.6% in September (yuan terms) 

  • Exports to the US are up 16.6% in yuan terms 

In USD terms

China trade balance is a surplus of $31.07bn

  • expected $19.2bn, prior was $27.89bn

Exports +14.5% y/y … beat 

  • expected 8.2%, prior 9.8%

Imports +14.3% y/y … not a beat

  • expected 15.3%, prior was 19.9%

China’s trade surplus with the US for Sep is at 34.13bn USD

  • a record high
  • For the YTD, Jan to Sep the surplus is at $225.8bn, it was $196bn for Jan to Sep 2017

Well, its difficult to see this set of numbers calming China / US trade tensions. If you are of the opinion China manipulates the economic data it publishes then what do you make of this signalling? Middle finger to the US Prez?

If you are of the opinion the data is not manipulated, this is just wow …. huge growth in exports for the month in the face of trade tenisons rising. 

ForexLive



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