China's YTD trade balance is 5.34 tln yuan surplus
- exports +11.9% y/y
- imports +4.6% y/y
In USD terms January - November
- exports +9.1% y/y
- imports +2.0% y/y
Still awaiting the November month only data.
For the November month alone:
Trade balance is CNY 494.3bn surplus
- prior 586.8bn
Exports +0.9% y/y yuan terms
- prior +7.0%
Imports -1.1% y/y yuan terms
- prior +6.8%
In US dollar terms
- Trade balance 69.84bn USd surplus
- Exports -8.7% y/y
- Imports -10.6% y/y
----
Not good numbers for Chinese trade but as I said earlier moves to ease back on COVID restrictions in the country is making data more stale than usual. Trade will pick up in the months ahead.
