China’s trade balance for the January-February period, in yuan terms, rose to 738.8 billion yuan from 407.53 billion expected and 604.69 billion seen in the previous period.
Exports increased 13.6% last month vs. 19.1% forecast and 17.3% prior.
Imports increased 12.3% vs. 21.3% forecast and 16% prior.
In USD terms, China reported a larger-than-expected increase in the trade surplus, as imports fell while exports beat expectations..
The trade balance rose to 115.95 billion dollars against the 99.50 billion expected and the 94.46 billion seen in the previous period.
- Exports (YoY): +16.3% vs. +15% expected and +20.9% prior.
- Imports (Interannual): +15.5% vs. +16.5% expected and +19.5% prior.
Additional comments
- Crude oil imports from China in January-February rise to 85.14 million tons.
- China’s natural gas imports in January-February rise to 19.86 million tons.
Source: Fx Street
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