China’s exports grew 29.9% last year compared to the results obtained during 2020. The figure means a record surplus of US $ 676.4 billion, according to data published this Friday by the General Administration of Customs.
Thus, only in December, the trade surplus of the Asian giant grew by 20.8% compared to the previous year and reached US$ 94.4 billion, the highest since records began in August 1994. The result also exceeded by more than US$ 20 million to the surplus of US$ 71,720 million registered in November.
According to AFP, exports in China rose to $3.3 trillion in 2021 despite a shortage of processor chips for smartphones and other products as global demand recovered from the coronavirus pandemic.
They were also driven by the sale of products linked to the fight against the pandemic, such as surgical masks, as well as by a rebound in sales of mechanical and electronic products, customs agency spokesman Li Kuiwen told AFP. .
Although China has done well in the face of a challenging year, Li told reporters that the economy “is facing triple pressure from contracting demand, supply shock and downward expectations.”
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