China: Trade balance below expectations – Deutsche Bank

Research Team at Deutsche Bank, suggests that the China’s trade balance printed a little below expectations in March with a surplus of $US29.86bn versus consensus expectations of a $US34.95bn outturn.

Key Quotes

“Exports growth was a touch stronger than expected at 11.5% yoy (versus 10.0% expected by the consensus), while imports fell less than expected (-7.6% yoy versus 10.1% yoy). The strong seasonality in the data this time of year make it, unfortunately, very difficult to draw any strong conclusions out of one month’s results.”