China’s Oct trade data (USD): Exports and imports beat estimates

The China customs published Trade Balance for October in USD terms, reporting an unexpected contraction in the trade surplus while both exports and imports beat estimates.

In USD terms,

Trade Balance (USD) came in at +0.43B versus +40.83B expected and +39.65B previous.

Exports (YoY): -0.9% vs.-3.9% exp. and -3.2% last.

Imports (YoY): -6.4% vs.-8.9% exp. and -8.5% last.