China trade data for April: CNY 93.6bn (vs. expected 216.75bn

  
Analysis, Economy

China trade data for April 2019

Yuan terms
China trade balance: CNY 93.6bn … miss
  • expected CNY 216.75bn, prior was CNY 221.23bn
Exports +3.1% y/y: … miss
  • expected 8.0%, prior was 21.3%
Imports +10.3% y/y: … a beat and augurs well for the domestic economy
  • expected 3.0%, prior was -1.8%

USD terms (these may be later)

China trade balance: USD 13.84bn … miss
  • expected $ 34.56bn, prior was $32.67bn
Exports: -2.7% y/y … miss
  • expected 3.0%, prior 14.2%
Imports: +4.0% y/y … beat
  • expected -2.1%, prior was -4.8%
Chinese data … questions on their veracity are never far away. But … the weaker exports might give them some breathing space at trade talks this week?
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