China’s Trade Balance: Surplus widens more than expected in February amid a surge in  exports

Share:

China’s Trade Balance for February, in Chinese Yuan terms, came in at CNY 890.8 billion, widening from the previous figure of CNY540.90 billion.

Exports rose sharply by  7.1%% YoY during the reported month vs. 2.3% seen in January and 1.9% expected. The country’s imports, meanwhile, climbed 3.5% YoY in February vs. 0.2% booked previously.

In US Dollar terms, China’s trade surplus rose to $125.16 billion in February versus the +103.7 billion expected and +75.34 billion previous.

FX implications

The AUD/USD pair reacts little to the upbeat data and sticks to its modest intraday gains just below a nearly two-week high touched on Wednesday.