China’s Jan trade data (USD terms): A huge beat across all indicators

Following the release of China’s trade balance for January, in yuan terms, the China customs published the data in USD terms, showing that the country’s trade surplus, exports as well imports came in much stronger-than expected.

In USD terms,

Trade Balance (USD) Jan came in at 51.35B surplus versus 48.50B exp. and 40.71B last

Exports (YoY) Jan: +7.9% (est. +3.2%, prev. -6.2%)

 Imports (YoY) Jan: +16.7% (est. +10.0%, prev. +3.1%)