Chinese imports through the roof, five times above expected

FXstreet.com (Barcelona) - China has declared a trade surplus of $17.8 billion, with exports at +5.1% Y/Y in July, vs expectations of +3.0%, while imports stood at +10.9%, almost 5 times higher than expectation of +2.1%.

The astonishing rise in imports is seen as positive for the Australian economy, as the country remains one of the main trading partners with the Big Panda, thus increase in imports means higher demand for Australian products.

Month on month, the Chinese reported July calendar-adjusted exports -1.2% while imports stood at -3%. Meanwhile, July MoM exports stood at 6.7%, with imports at 14.3%.