China’s trade surplus surged to a record-high in 2021, as exports surpassed expectations during the global pandemic. CSI 300 Index down -0.82%, CNY USD up +0.22%
- The trade surplus reached $676.43 billion in 2021, the highest level since the records were created in 1950, an increase from $523.99 billion in 2020.
- China also posted a record trade surplus for the month of December as exports remained high as import growth eased sharply.
- The trade surplus increased to $94.46 billion in December, the highest since records were started in August 1994. That figure was an increase from a $71.72 billion surplus in November.
- China’s massive trade surplus with the United States expanded to $39.23 billion in December, growing from $36.95 billion in December, but remains below this year’s record level of $42 billion in September.
- China’s exports beat estimates for 2021, but shipments have been decreasing as foreign demand for goods cools down, and high costs hamper exporters.