China’s trade surplus surges to record $676.4B in 2021

By JOE McDONALD
AP Business Writer

BEIJING (AP) — China’s politically volatile global trade surplus surged to $676.4 billion in 2021, likely the highest ever for any country. Exports jumped nearly 30% over a year earlier despite semiconductor shortages that disrupted manufacturing. Customs data showed the country’s trade surplus in December swelled 20.8% over a year earlier to a monthly record of $94.4 billion. 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 they focused on containing coronavirus infections. Exports rose to $3.3 trillion in 2021 despite shortages of processor chips for smartphones and other products as global demand rebounded from the pandemic.