China’s Trade Surplus Hits Annual Record in 2021 — Saw Double-Digit Growth in Exports Every Month

China’s Trade Surplus Hits Annual Record in 2021 — Saw Double-Digit Growth in Exports Every Month


China’s dominance of global trade in the wake of the Wuhan coronavirus pandemic was confirmed on Friday with the release of annual data that showed its trade surplus hitting a record high of $676 billion in 2021, a 26 percent gain over 2020 driven by a 30 percent surge in exports.

The Financial Times (FT) noted Friday that China posted double-digit growth in exports during every single month of 2021. Economist Larry Hu of Australia’s Macquarie Group said the surge in exports was enough to “offset the slowdown in property and the very weak consumption” posted by China.

“After a deep fall in early 2020, Chinese exports began to rise sharply soon after domestic cases of the virus slowed to a trickle and

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