China trade balance likely to come in around USD 30bn in May - TDS

Analysts at TDS offer a sneak peek at what to expect from today’s China trade report due on the cards any time soon.

Key Quotes:

Our models utilizing trade data from key trading partners and commodity prices point to another healthy increase in imports in May, likely up 19.4% y/y following a 21.5% y/ y rise in April. 

Export growth is likely to be more moderate, with a less than consensus 10.1% y/y increase expected. 

Consequently, the trade balance is likely to come in around USD 30bn in May.

TD's forecasts on the right, lower than market consensus for both imports and exports: