-
China trade balance for July USD 80.6 billion versus expected USD 70.6 billion
China trade balance USD comes in at 80.6 billion versus expected 70.6 billion. • Previous 70.62 billion. • Exports YoY felt -14.5% versus expectations -12.5% (previous -12.4%). • Imports YoY fell -12.4% vs expected -5.0% (previous -6.8%). Although the surplus was higher, the mix of both imports and exports declining is not a good number. Other details: • China July trade balance +575.7 bln yuan. • China Jan-July dollar-denominated exports -5.0% y/y. • China Jan-July dollar-denominated imports -7.6% y/y. • China Jan-July yuan-denominated exports +1.5 % y/y. • China Jan-July iron ore imports up 6.9% at ... (full story)
-
China reports double-digit plunge in July exports and imports, missing expectations
China said Tuesday that exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% in U.S. dollar terms. That’s worse than what analysts had expected. A Reuters poll predicted a 12.5% decline in exports in July from a year ago, in U.S. dollar terms. Imports were expected to have dropped by 5% during that time, according to the poll. China’s exports to the U.S. plunged by 23.1% year-on-year in July, while those to the European Union fell by 20.6%, CNBC analysis of customs data showed. A slowdown in U.S. and other major economies’ growth has dragged down Chinese exports this year. Meanwhile, ... (full story)