March trade balance USD 23.93bn (Reuters poll had +10bn USD expected)

  • USD denominated exports +16.4% y/y for the month (Reuters expected +3.2%)
  • USD denominated imports +20.3% y/y for the month (Reuters poll expected +18.0%)

Earlier the Customs Bureau released the CNY terms, but for Q1 as a whole, not separating out March figures:

  • China trade balance data for March aggregated into Q1 data

Ahh, here we go, March figures in CNY:

  • Trade balance, +164.3bn yuan vs. expected CNY 75.80bn, prior was CNY -60.36bn
  • Exports +22.3% y/y, expected +8.0%, prior was +4.2%
  • Imports +26.3% y/y, expected +15.0%, prior was +44.7%