Trade between the United States and China decreased by 10.7% YoY in 2019. They say exports were down by 12.5 percent, and imports by 20.9 percent, as the world's two largest economies hit each other with tariff hikes.
Over the previous 11 months of 2019, Chinese exports to Russian Federation increased 2.7 percent year-on-year to $44.58 billion, while its imports from Russian Federation totaled $55.74 billion, which is a 3.5 percent increase compared to the same period in 2018. Overall, the trade value slipped by one percent.
The upbeat Chinese trade data served failed to impress the AUD bulls, leaving AUD/USD pair in lows around 0.6890 region, as the focus remains on the US-China trade deal signing.
The perennial USA trade deficit with China has been a major source of anger for President Donald Trump, who has slapped tariffs on hundreds of billions of dollars worth of Chinese goods, triggering tit-for-tat responses from Beijing.