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China trade balance: Imports, exports pick up in March

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    China March trade balance came at 194.6bn CNY vs expected 203.65bn and prior of 209.50b, with exports up 18.7% y/y (in yuan terms) vs +14.9% y/y expected and prior of -20.6%, while imports were down 1.7% y/y (in yuan terms) vs -4.8% y/y expected and -8.0% last.

    A break down in imports data shows March oil products imports was down by 1.9% y/y, Jan-Mar crude oil imports +13.4 pct y/y, Jan-Mar iron ore imports +6.5 pct y/y, Jan-Mar copper imports +30.1 pct y/y, while Jan-Mar coal imports -1.2 pct y/y, according to customs data.

    According to Chinese customs, "foreign trade still faces relatively big difficulties", adding that "exports likely to gradually stabilise in Q2."
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