China's Trade Balance for the period January-February, in Yuan terms, came in at CNY738.8 billion versus CNY407.53 expected and CNY604.69 billion last.
The exports rose by 13.6% last month vs. 19.1% expected and 17.3% previous.
Imports increased by 12.3% vs. 21.3% expected and 16% prior.
In USD terms,
China reported a bigger-than-expected rise in the trade surplus, as imports dropped while exports surpassed expectations.
Trade Balance came in at +115.95B versus +99.50B expected and +94.46B previous.
Exports (YoY): +16.3% vs. +15% exp. and +20.9% prior.
Imports (YoY): +15.5% vs. +16.5% exp. and +19.5% last.
Additional takeaways
China Jan-Feb crude oil imports at 85.14 mln tonnes.
China Jan-Feb natural gas imports at 19.86 mln tonnes.
FX implications
AUD/USD remains unperturbed by the mixed Chinese trade figures, keeping its corrective pullback intact around 0.7405. The spot is up 0.53% on the day.
