China’s April trade data (USD): Exports & imports surprise negatively

Following the release of China’s trade balance for April, in Yuan terms, the China customs published the data in USD terms, reporting a wider trade surplus. However, both exports and imports surprised the downside.

In USD terms,

Trade Balance (USD) April came in at 38.05B surplus versus +35.2B exp and 23.92B previous.

Exports (YoY) April: +8% (est. +11.3% and 16.4% last)

 Imports (YoY) April: +11.9% (est. +18.0% and 20.3% last)