China's December trade balance saw significant expansion, with exports surging and imports rising modestly. This positive data contributed to a boost in the AUD/USD exchange rate.
China's trade balance in Chinese Yuan (CNY) terms reached CNY752.91 billion in December, expanding from the previous figure of CNY692.8 billion. Export s surged by 10.9% year-on-year (YoY) in December, compared to 1.5% in November. Meanwhile, the country's imports rose by 1.3% YoY during the same period, following a 1.2% increase previously.In US Dollar (USD) terms, China's trade surplus also expanded in December. The trade balance reached +104.84 billion, exceeding the expected +99.
8 billion and the previous +97.44 billion. Exports (YoY) grew by 10.7% compared to the expected 7.3% and the previous 6.7%. Imports (YoY) increased by 1%, contrasting with the anticipated -1.5% and the previous -3.9%.Looking at the full year, China's USD-denominated exports grew by +5.9% YoY, while imports rose by +1.1% YoY.China's December trade surplus with the US amounted to $33.5 billion, up from $29.81 billion in November. For the year 2024, China's trade surplus with the US is projected to reach $361.03 billion.From a foreign exchange perspective, AUD/USD is experiencing recovery gains above 0.6150 following the strong China trade data. The pair is gaining 0.10% on the day, trading near 0.6157 as of writing
CHINA TRADE AUDUSD EXPORT IMPORT SURPLUS
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