China weekend data, exports jumped 11.4% in October & imports +4.7% (USD terms, y/y)

News

Data was released over the weekend for China trade balance’s last month 

A surplus of 401.75bn yuan

  • easily beating the expected CNY 320.4bn, prior was CNY 257.68bn

Exports +7.6% y/y vs.

  • expected 6.5%, prior was 11.6%

Imports +0.9% y/y

  • expected +6.3%, prior was +11.6%

USD terms

China trade balance: 58.44bn vs.

  • expected $46.30bn, prior was $37bn

Exports +11.4% 

  • expected 9.2%, prior 9.9%

Imports +4.7%

  • expected 8.6%, prior was 13.2%

 –

The export growth is the best for China since before the pandemic. Import growth was slower but comes after a stock-piling-driven surge the previous month (tech imports up as sanctions may restrict supply ahead).

Media sources note that China’s trade surplus in the month is around 50% higher than when the current US administration took office in 2017. After all the drama and big promises the admin has taken it backwards. 

For bank trade ideas, check out eFX Plus

Articles You May Like

Forexlive Americas FX news wrap 24 Feb: US stocks fall despite talk of peace deal ahead.
Palantir trades down close to 15% on defense spending cuts
Oil falls 2% but concerns over supply disruptions provide support
Trump tariff worries keep gold near record high level
White House nat sec advisory Waltz: Zelensky needs to return to table on critical minerals

Leave a Reply

Your email address will not be published. Required fields are marked *