China’s July trade data (USD): Surplus narrows to 28.05bn, misses estimates

The China customs published  trade balance  for July in USD terms, reporting a surprise contraction in the trade surplus on a massive jump in the country’s imports.

In USD terms,

Trade Balance (USD) July came in at 28.05B versus 39.33B expected and 41.47B previous.

Exports (YoY) July:  +12.2% vs. +10.0% expected and +11.2% last.      

Imports (YoY) July:   +27.3% vs. +16.2% expected and +14.1% last.