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China: Trade surplus for Sep remained near record levels - TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, notes that the Chinese trade surplus for posted surged to near record levels of US$60b as exports continue to paint strong picture.

    Key Quotes

    “In USD terms, exports jumped +4%/m (-3.7%/yr), while imports fell for the third month, -3.1%/m, to be 20.4% down on the year (base effect at play here given Sep ‘14 saw imports at near record levels). In terms of breakdowns, exports to the US and Europe picked up. Iron ore imports reached record highs in volume terms while imports of coal and copper picked up. Lets see whether this demand for commodities is sustained into Q4.”
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