February trade balance in yuan terms, we'll get the USD terms about half an hour if past experience holds
DEFICIT! ... Note, the January trade balance was a bigger than expected surplus ... the January and February data is skewed by the lunar new year holiday, so its best to average out the January and February data (January data linked below)
Yuan terms
China trade balance for February: CNY -60.40bn ......... big miss on huge jump in imports and miss on exports
- expected CNY 172.5bn, prior was CNY 354.5bn
Exports y/y: +4.2% ...... MISS
- expected +14.6%, prior was +15.9%
Imports y/y: +44.7%
- expected +23.1%, prior was +25.2%
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Link to the January results:
- China January trade balance: 354.5bn yuan surplus, beat
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Combining the two, to give the January-February balance:
- Surplus of 293.7bn CNY
- Jan-Feb Imports +34.2% (yuan terms)
- Jan-Fen exports +11% y/y (yuan terms)