China’s imports fell in the first half

China customs reports that the value of goods imports measured in US dollars fell by 4 % y-o-y in the first six months of this year. The value of imports fell by 7 % in June. Imports were down for all of China’s key markets, except the EU. The value of imports from the US was down by 30 % y-o-y in the first half.

The dollar-value of goods exports in 1H19 was unchanged from 1H18 and fell by 1 % y-o-y in June. Exports to the US fell by 9 % in the first half, while the value of exports to the EU rose by 5 %. The first-half goods trade surplus overall climbed to 181 billion dollars. The trade surplus with the US increased to 140 billion dollars, up from 134 billion dollars in 1H18.

In yuan terms, China’s foreign trade rose slightly in January-June, with the value of imports up 1 % and exports 6 %.

Evolution in Chinese imports from major trade partners

Source: Macrobond.