China’s full 2018 trade data: USD-denominated export growth hit highest since 2011

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.