19-January-2022
Economy News
 
China's global trade surplus surges to record $676.4 billion in 2021
14-Jan-2022

China's politically volatile global trade surplus surged to $676.4 billion in 2021, likely the highest ever recorded by any country, as exports jumped 29.9% over a year earlier despite semiconductor shortages that disrupted manufacturing. The country's trade surplus in December swelled 20.8% over a year earlier to a monthly record of $94.4 billion, customs data showed Friday. China piled up a series of monthly export surpluses in 2021 but they prompted less criticism from the United States and other trading partners than in earlier years while they focused on containing coronavirus infections. Exports rose to $3.3 trillion in 2021 despite shortages of processor chips for smartphones and other products as global demand rebounded from the pandemic. Manufacturers also were hampered by power rationing imposed in some areas.

News Source:- https://www.business-standard.com/article/international/china-s-global-trade-surplus-surges-to-record-676-4-billion-in-2021-122011400182_1.html