Trade data from China for March 2023
In USD terms:
Exports +14.8% y/y
- expected -7.1%, previous -6.8%
Imports -1.4% y/y
- expected -6.4%, previous -10.2%
Trade balance USD 88.19bn surplus
- expected 40bn, previous 116.9bn
Yuan denominated:
- exports +23.4% y/y
- imports +6.1% y/y
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Surging exports in the month is a big surprise. Earlier today we had a customs spokesman saying trade was facing difficulties. Exports sure looking solid though.
Earlier:
