China posts record trade surplus on 2021 Covid export gain

CHINA’s trade surplus reached the highest level on record in 2021, thanks to a boom in exports that helped overcome a drop in momentum across the wider economy, reports London’s Financial Times. Official data released showed that China’s trade surplus was US$676 billion for 2021, 26 per cemt higher than in 2020. Exports were 30 per cent higher at $3.36 trillion for the full year, with December’s year-on-year growth of 21 per cent adding to a streak of double-digit gains in every single month. The data highlighted China’s dominance of global trade during the Covid crisis, during which its manufacturing…