China’s June Trade Balance: Surplus widens as exports surge but imports growth ease

China's Trade Balance for June, in Yuan terms, came in at CNY332.75 billion versus CNY296 billion last.

The exports surged 20.2% last month vs. 29.6% expected and 18.1% previous.

Imports rose by 24.2% vs. 32.3% expected and 39.5% prior.

In USD terms,

China reported a bigger-than-expected growth in the trade surplus, as imports and exports both outpaced estimates.

Trade Balance came in at +51.5B versus +44.2B expected and +45.53B previous.

Exports (YoY): +32.2% vs. +23.1% exp. and +27.9% prior.

Imports (YoY): +36.7% vs. +30.0% exp. and +51.1% last.

Additional takeaways

China H1 exports to the US +31.7% in yuan terms.

China H1 agricultural imports from the US +120.8%.

China H1 imports from the US +43.9% in yuan terms.

more to come ....