GXC - China posts smallest trade surplus since February as exports fell more than imports amid weakening global demand
2023-06-07 01:43:30 ET
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China's trade surplus missed expectations and stood at $65.81 billion from $78.40 billion in the same period a year earlier.
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It was the smallest trade surplus since February, as exports fell more than imports, amid persistent weak global demand.
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Exports shrank by 7.5% y/y to a three-month low of $283.5 billion, the first decline in three months and the steepest drop since January, compared to market consensus of a 0.4% fall, while imports decreased by 4.5%, amid weakening domestic demand, softening commodity prices, and a stronger dollar.
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ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).
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China posts smallest trade surplus since February as exports fell more than imports, amid weakening global demand