BEIJING– China recorded a record foreign trade surplus in December and throughout 2021, because the growth of exports exceeded expectations despite the global pandemic.
China’s trade surplus reached 676.43 billion dollars in 2021, which is the highest level since 1950, when the records began to be kept, according to today’s data from the statistical office. Last year, the surplus amounted to 523.99 billion dollars, Reuters reports.
Total exports jumped 29.9 percent last year compared to a 3.6 percent increase in 2020. Chinese imports rose 30.1 percent last year, after falling 1.1 percent a year earlier.
China also achieved a record surplus in world trade in December, as exports remained strong, while the growth of imports slowed down sharply, customs data showed, reports Tanjug.
The December trade surplus rose to $ 94.46 billion from the November level of $ 71.72 billion. It is also a record result in a series of monthly indicators since 1994, when those statistics began to be kept.
December exports increased by 20.9 percent compared to the same month in 2020, exceeding the expected growth of 20 percent, although it slowed down compared to November when the growth was 22 percent.
Imports increased by 19.5 percent year on year in December, according to customs data, failing compared to the forecasts of economists who predicted growth of 26.3 percent, and fell sharply compared to November’s growth of 31.7 percent.