China’s Feb trade data (USD terms) shows 1st monthly deficit in 3 years

Following the release of China’s trade balance for February, in Yuan terms, the China customs published the data in USD terms, reporting an unexpected trade deficit last month, with imports showing a bigger-than expected jump.

In USD terms,

Trade Balance (USD) Feb came in at -9.15 deficit versus +25.75B exp. and +51.34B last

Exports (YoY) Feb: -1.3% (est. +12.3%, prev. +7.9%)

 Imports (YoY) Feb: +38.1% (est. +20.0%, prev. +16.7%)