China’s Dec trade balance (CNY): Exports and imports drop sharply
|China's trade balance for December, in Yuan terms, came in at CNY 395bn versus CNY 306.04bn last.
Exports came at +0.2% y/y vs. +10.2% last, while imports were -3.1% y/y vs. and +7.8% last.
About China trade balance
The Trade Balance released by the General Administration of Customs of the People’s Republic of China is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the CNY. As the Chinese economy has influence on the global economy, this economic indicator would have an impact on the Forex market. In general, a high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.
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