China exports surprise to the upside in June, surplus shrinks

The latest trade data from China customs showed that the trade surplus shrank in June, despite exports surprising to the upside on an annualised basis and imports dropping less than expected last month.

Key Details:

China June trade balance +CNY311.2 bln; May +CNY324.8 bln

China June exports +1.3% Y/Y VS Median -4.5% Y/Y

China June imports -2.3% Y/Y VS Median -4.2% Y/Y