prior was -22.99bn – Exports for March: -6.6% y/y expected +4.8% prior was -18.1% Imports for March: -11.3% y/y expected +3.9% prior was 10.1% - I would think that big decline in imports should be a negative input for the AUD - China customs authority comments: Says both exports and imports will recover growth and enter a stable growth stage This year the external environment will be better for trade\ Relatively optimisitc that exports in Q2 will be better than in Q1 Still possible to achieve this year’s 7.5% trade growth target (full story)