Why do we even call it a trade balance? Its a trade surplus .... this time for November
In CNY terms (we'll get the USD terms soon)
+343.1 bn
- expected 407.5bn
- prior was 392.2bn
Exports -3.7% y/y
- expected -2.9%
- prior was -3.6%
Imports -5.6% y/y
- expected -11.3%
- prior was -16.0%
Exports down again, not a good sign for the economy
Imports down again, but a beat on expectations, ... not as bad as expected