The China Customs publishes the country’s trade balance numbers for the full 2018 year, with the key details found below.
In Yuan terms
Exports: +7.1% y/y
Imports: +12.9% y/y
Trade surplus: CNY 2.33 tln
In USD terms
Exports: +9.9% y/y
Imports: +15.8 % y/y
Trade surplus: USD 351bn
It’s worth noting that the dollar-denominated export growth hit the highest since 2011, partly due to the rising exports amid ‘front loading’ ahead of the US imposition of tariffs.
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