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China?s Trade Surplus Hit Record in 2021?With Exports Jumping 30% Amid Pandemic Demand


the China Federation of Logistics & Purchasing
The People’s Bank of China
European Union
EU


Joe Biden
Donald Trump
Julian Evans-Pritchard


Chinese
American
European


Europe

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BEIJING
China
the United States
U.S
U.S.
Beijing
Tianjin
Saudi Arabia

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The New York Times
SOURCE: http://time.com/6139334/china-record-trade-surplus-2021/
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Summary

Exports to the U.S. market rose 21.1% to $56.4 billion while imports of American goods edged up 3.3% to $17.1 billion.This month, China’s global export volumes are likely to weaken due to congestion at ports where anti-coronavirus restrictions are imposed and to changes in global demand as shippers clear backlogs, said Julian Evans-Pritchard of Capital Economics.“We’d still bet on export volumes being lower rather than higher by the end of this year,” said Evans-Pritchard in a report.Chinese imports in 2021 rose 30.1% to $2.7 trillion as the world’s second-largest recovery rebounded from the pandemic.Economic growth weakened in the second half of the year as Beijing carried out a campaign to reduce what it sees as dangerously high debt in the real estate industry, but consumer spending was above pre-pandemic levels.Manufacturing activity edged higher in December but new export orders contracted, according to survey earlier by the government statistics bureau and an industry group, the China Federation of Logistics & Purchasing.Chinese exporters benefited from being allowed to resume most normal business in early 2020 while foreign competitors faced anti-coronavirus restrictions on travel and trade.

As said here by Joe McDonald/AP