China trade (USD terms): Below estimates, Imports drop sharply

Following the release of China’s trade balance for October, in yuan terms, the China customs published the data in USD terms, showing a much bigger-than expected drop in the country’s imports.

In USD terms,

Trade Balance (USD) Oct came in at 49.06B versus 51.70B exp. and 41.99B last

Exports (YoY) Oct: -7.7% (est. -6.00%, prev. -10.00%)

 Imports (YoY) Oct: -7.5% (est. -1.00%, prev. -1.90%)