China May trade data: USD denominated exports +7.6% y/y (beat) and Imports +1.8% (miss) | Forexlive

Trade data from China for May 2024

In USD terms:

Trade Balance 82.62bn

• expected 73.0bn, prior 72.35bn

Imports +1.8% y/y

• expected +4.2%, prior +8.4%

Exports +7.6% y/y

• expected +6.0%, prior +1.5%

For the YTD, January – May, in US dollar terms:

• Trade surplus of $337.2 billion
• Exports +2.7% y/y
• Imports +2.9% y/y

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In CNY terms, for May alone:

• Trade surplus 586.4bn yuan
• Exports +11.2% y/y
• Imports +5.2% y/y

For the YTD, in yuan terms:

• Trade surplus 2.4 tln yuan
• Exports +6.1% y/y
• Imports +6.4% y/y

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Exports in May have had a large beat of expectations, while imports have had a very disappointing miss.