China trade data for December due soon – what to expect

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I posted earlier that the data is due at 0200GMT … but to not rely on that timing as it an be quite variable.

Expecations and previous month’s data:

Yuan terms

  • China trade balance: expected CNY 457.8bn, prior was CNY 507.1bn
  • Exports y/y: expected +7.1%, prior was +14.9%
  • Imports y/y: expected +0.1%, prior was -0.8%

USD terms

  • China trade balance: expected $72bn, prior was $75.4bn
  • Exports: expected 15.0%, prior 21.1%
  • Imports: expected 0.1%, prior was -0.8%

TD have brief preview comments:

  • A number of indicators point to a robust performance for Chinese trade, including PMI exports and imports components as well as trade with South Korea. Taken together with likely ongoing strong demand for stay at home goods including electronics and medical equipment produced by China. it implies another month of strong gains in imports and in particular exports. 

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