onebyone
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Driverless vehicles move shipping containers at a port in Qingdao in eastern China's Shandong Province, Thursday, Jan. 6, 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 nearly 30% over a year earlier despite semiconductor shortages that disrupted manufacturing. (Chinatopix via AP)Less
BEIJING (AP) — China’s politically volatile global trade surplus surged to $676.4 billion in 2021, likely the highest ever for any country, as exports jumped 29.9% over a year earlier despite semiconductor shortages that disrupted manufacturing.
The country’s monthly trade surplus in December swelled 20.8% over a year earlier to a record $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 their governments focused on containing coronavirus infections.
China’s global trade surplus was a 26.4% increase over 2020, which economists said then was among the highest ever reported by any economy. They said the only comparison as a percentage of the economy's size likely was Saudi Arabia and other oil exporters during their price boom in the 1970s, but their total revenues were smaller.
The swollen trade surplus has strained the ability of China’s central bank to manage the exchange rate of its yuan, which has risen to multi-year highs against the U.S. dollar as money flows into the country. The People’s Bank of China has tried to limit the ability of banks and other traders to speculate on the currency's movement.
China’s trade surplus with the 27-nation European Union, its second-largest trading partner, swelled 57.4% in 2021 over a year earlier to $208.4 billion. Exports to the EU rose 32.6% to $518.3 billion while imports of European goods gained 19.8% to $309.9 billion.
In December, China’s trade surplus with Europe widened by 85.9% over a year earlier to $25.1 billion.
China's trade surplus surges to record $676.4B in 2021
China’s politically volatile global trade surplus surged to $676.4 billion in 2021, likely the highest ever for any country, as exports jumped 29.9% over a year earlier despite semiconductor shortages that disrupted manufacturing. The country’s monthly trade surplus in December swelled 20.8%...
China's trade surplus surges to record $676.4B in 2021
China’s politically volatile global trade surplus surged to $676.4 billion in 2021, likely the highest ever for any country, as exports jumped 29.9% over a year earlier despite semiconductor shortages that disrupted manufacturing. The country’s monthly trade surplus in December swelled 20.8%...
Damn, Amazing !
