MNI BRIEF: China 2021 Trade Grows To Record High

China's foreign trade has played a great performance in the year of 2021, with exports and imports growing to record high of $6.05 trillion, or a 30.0% increase, according to the data released on Friday by the China General Administration of Customs.

Exports increased 20.9% y/y in December, leading the whole year growth climbing to 29.9% y/y. Among export products, mechanical and electronical items were accounted for 59% of the total exports by increasing 20.4% y/y, Customs said.

Imports rose 19.5% y/y in the last month, accumulating the yearly growth to 30.1% y/y. December trade surplus expanded to USD94.46 billion from USD71.71 billion in November. The surplus amounted to USD676.43 billion in the year.

China exports to the European Union, the United States and ASEAN increased by 32.6%, 27.5% and 26.1%, respectively while imports from the above top three marked 19.9%, 32.7% and 30.8%.