Huge Chinese Trade Miss as China Exports Fall 16.6%

The Chinese February trade data were a huge miss with exports down in Yuan terms -16.6% Y/Y from an expected gain of +6.6%. Imports were also missed -0.3% y/y versus an expected +6.2%. Chinese trade balance was CNY 34.46bn from an expected CNY 252.3bn.

The Chinese February trade data were a huge miss with exports down in Yuan terms -16.6% Y/Y from an expected gain of +6.6%. Imports were also missed -0.3% y/y versus an expected +6.2%. Chinese trade balance was CNY 34.46bn from an expected CNY 252.3bn.

China Trade Balance Feb 2019

Yuan Terms

  • China Feb. Exports -16.6% Y/Y In Yuan Terms; Est. 6.6% prior 13.9%
  • China Feb. Imports -0.3% Y/Y In Yuan Terms; Est. 6.2% prior 2.9%
  • China Feb. Trade Balance 34.5b Yuan; Est. 250.0b Yuan, prior was CNY 271.16bn 

China Imports 

China Exports

USD Terms

  • China trade balance USD 4.12bn surplus expected $26.2bn, prior  $39.16bn
  • Exports -20.7% y/y expected -5.0%, prior 9.1%
  • Imports -5.2% y/y expected -0.6%, prior -1.5%

Balance of Trade in China averaged 97.14 USD HML from 1981 until 2019, reaching an all time high of 612.86 USD HML in October of 2015 and a record low of -320.02 USD HML in February of 2012.

One caution however January and February data distortions can exist with the lunar new year holiday timings.

From The TradersCommunity News Desk

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