- China’s June Trade Balance: Surplus widens amid exports slump
Market news
13 July 2023
China’s June Trade Balance: Surplus widens amid exports slump
China's Trade Balance for June, in Chinese Yuan terms, came in at CNY491.25 billion versus CNY452.33 billion last.
Exports plunged 8.3% in the reported period vs. -0.8% previous.
The country’s imports fell 2.6% vs. 2.3% prior.
In US Dollar terms, China’s trade surplus widened less than expected in June, as exports slumped.
Trade Balance came in at +70.62B versus +74.80B expected and +65.81B previous.
Exports (YoY): -12.4% vs. -9.5% exp. and -7.5% prior.
Imports (YoY): -6.8% vs. -4.0% exp. and -4.5% last.
FX implications
AUD/USD is shrugging off mixed Chinese trade figures. The spot is up 0.40% on the day, trading at 0.6810, as of writing.
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