China 2020 exports up despite virus; surplus surges to $535 billion

Cornelia Mascio
Января 14, 2021

Exports rose 3.6 per cent over 2019 to United States dollars 2.6 trillion, an improvement over 2019 " s 0.5 per cent gain, customs data showed Thursday.

Exports surged 18.1% in December over a year earlier to $281.9 billion.

Imports meanwhile rose 6.5% in December from a year earlier, quickening from 4.5% growth in November and beating expectations for a 5% increase in the Reuters poll.

China's exports rose in 2020 despite pressure from the coronavirus pandemic and a tariff war with Washington, boosting its politically volatile trade surplus to United States dollars 535 billion, one of the highest ever reported.

But there are some concerns that a rise in raw material prices and a recent rally in the local currency could squeeze exporters' profits.

Its trade surplus with the United States narrowed to $29.92 billion in December from $37.42 billion in November.

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