China Trade Wreck; Rebalancing Recession Begins?

Exports fell 25.4% year on year while imports fell 13.8% in USD. In RMB, the figures are a little better, down 20.6% and 8.0%.

Notable figures (RMB value for trading partners; volume for goods)

Hong Kong: Exports down 8%, imports up 89% Currency outflows?

Trade partners with 20% drop in exports: ASEAN, Indonesia, Malaysia, Vietnam, South Africa, Brazil and almost Canada. Imports from Australia and Singapore fell more than 20%.

Coal exports increased 129%, rare earths 106%, refined oil 60%, autos fell 33%, crude oil fell 43%, steel down 1%

Copper imports increased 58%, iron ore 6%, crude oil 9%, natural gas 18%, coal down 10%, autos down 28%, steel down 8%


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