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Japan trade balance for June Y -268.8bn (expected Y -11.9bn)

  
Analysis, Economy
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Japanese data, exports worse than expected, imports fall lower than expected leading to a blow out on the deficit for the month

Japan trade balance for June Y -268.8bn

  • expected Y -11.9bn, prior Y -838.2bn

Trade balance adjusted Y -423.9bn

  • expected Y -331.1bn, prior Y -601.0bn

Exports -26.2% y/y

  • expected -24.7% y/y, prior -28.3%

Imports -14.4% y/y

  • expected -17.6% y/y, prior -26.2%
Japan is an export powerhouse, this miss on exports is suggestive of a global economy in even worse shape than may have been thought.

China June trade data, exports +4.3% y/y, imports +6.2% y/y (yuan terms)

  
Analysis, Economy
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china trade, yuan terms:

trade balance: expected CNY 425bn, prior was CNY 442.75bn

  • Exports +4.3% y/y: expected +3.5%, prior was +1.4%
  • Imports +6.2% y/y: expected -4.7%, prior was -12.7%

Exports have now risen for 3 consecutive months

The data is only dribbling out, do not have the trade balnce announced from China yet, nor the figures in USD terms. Nevertheless, bounce of both imports and exports is encouraging for the Chinese economy.

China has said trade with the US is down 6.6% y/y in H1.

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