13 Jan 2015
China 2014 trade balance misses official target – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares that China’s trade balance released today showed a surplus of $49.6B, but missed the official target.
Key Quotes
“China released December trade balance today at a surplus of $49.6B, slightly higher than consensus of $49.0B surplus. China December adjusted exports grew at 6.6% y/y, while adjusted imports shrank 6.2% y/y. Overall in 2014, China's trade growth was at 3.4% y/y, missed official target of 7.5%.”
“China Customs Bureau official said weak 2014 trade growth due to slow global recovery, also forecasted 2015 trade growth to be higher than 2014. Taking a look at some components, iron ore imports rose to 86.9M tons, and crude oil imports rose to 30.4M, both at record high level.”
“Aussie/Dollar traded initially higher to just below 0.82 level, then moved back lower during the later session.”
Key Quotes
“China released December trade balance today at a surplus of $49.6B, slightly higher than consensus of $49.0B surplus. China December adjusted exports grew at 6.6% y/y, while adjusted imports shrank 6.2% y/y. Overall in 2014, China's trade growth was at 3.4% y/y, missed official target of 7.5%.”
“China Customs Bureau official said weak 2014 trade growth due to slow global recovery, also forecasted 2015 trade growth to be higher than 2014. Taking a look at some components, iron ore imports rose to 86.9M tons, and crude oil imports rose to 30.4M, both at record high level.”
“Aussie/Dollar traded initially higher to just below 0.82 level, then moved back lower during the later session.”