-
China’s August Trade Balance: Surplus shrinks, exports and imports disappoint
China's Trade Balance for August, in Yuan terms, came in at CNY535.91 billion versus CNY504.85 expected and CNY682.69 billion last. The exports jumped by 11.8% last month vs. 15.7% expected and 23.9% previous. The country’s Imports rose by 4.6% vs. 8.7% expected and 7.4% prior. In USD terms, China reported a big drop in the trade surplus, as exports and imports both missed expectations. Trade Balance came in at +79.39B versus +92.7B expected and +101.26B previous. Exports (YoY): +7.1% vs. +12.8% exp. and +18.0% prior. Imports (YoY): +0.3% vs. +1.1% exp. and +2.3% last. FX implications: AUD/USD is hurt by the ... (full story)
-
China's trade growth in August loses steam on softer demand
China's exports growth weakened in August, as surging inflation crippled overseas demand and fresh COVID curbs and heatwaves disrupted production, reviving downside risks for the economy. Exports rose 7.1 per cent in August from a year earlier, slowing from an 18.0 per cent gain in July, official customs data showed on Wednesday. The reading missed analysts' expectations for a 12.8 per cent increase. Outbound shipments outperformed other economic drivers in 2022 but now face growing challenges as external demand wanes. China's slower growth is in part due to unflattering comparisons to strong exports last year, but ... (full story)
Medium Impact
Breaking
