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10 Jan 2014
China trade balance narrows but imports surge
FXstreet.com (Bali) - China trade balance for December, which was expected at +$32.15bn, came at +25.6 bn, $33.8bn was the prior reading.
Exports for December came at 4.3% vs 5.0% expected and prior of +12.7%, while imports stood at +8.3% vs +5.0% expected, prior was +5.3%.
The faster-than-expected increase in exports points to higher interest on goods overseas, a relatively positive sign for the Australian economy. According to David, Scutt, Treasury Dealer at Arab Bank Australia, posting from his Twitter account, "Chinese exports and import and growth well above forecasts is far more bullish than a narrowing of the trade surplus."
Exports for December came at 4.3% vs 5.0% expected and prior of +12.7%, while imports stood at +8.3% vs +5.0% expected, prior was +5.3%.
The faster-than-expected increase in exports points to higher interest on goods overseas, a relatively positive sign for the Australian economy. According to David, Scutt, Treasury Dealer at Arab Bank Australia, posting from his Twitter account, "Chinese exports and import and growth well above forecasts is far more bullish than a narrowing of the trade surplus."