China's foreign trade grows 21.4% in 2021 |  News

The General Administration of Customs of China reported this Friday that during 2021 the foreign trade of that country grew 21.4 percent compared to the previous year, and reached an amount of 39.1 billion yuan (6.14 billion dollars).


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The government office detailed that exports increased by 21.2 percent, while imports grew by 21.5 percent.

According to the media, exports slowed down last December compared to November, although this fall was less than expected by economic strategists.

According to Chinese authorities, the decrease in sales abroad during the last month of 2021 had to do with the high costs of shipments and low demand for merchandise during the festive season. There was also a decrease in imports.

When assessing trade with other nations, the General Administration of Customs explained that these grew with the countries of the European Union (EU), the Association of Southeast Asian Nations (Asean) and those articulated in the initiative of the Strip and the Silk Road.

The trade surplus with the US even grew, reaching 396.58 billion dollars. This is the second consecutive year that this indicator has grown after the fall it registered in the 2018-2019 period due to the trade war imposed by Washington on Beijing.

According to international media, China intends for 2022, among other goals, to further strengthen the domestic market and alliances with friendly countries and regions to try to reduce dependence on the US and overcome the damage caused by the Covid-19 pandemic to commercial activity.

Pinpoint Asset Management Chief Economist Zhiwei Zhang said that “China’s exports are expected to remain strong in the first quarter due to the resilience of global demand and the worsening of the pandemic in many developing countries.”

The expert of the aforementioned company, specialized in investment analysis, added that “strong exports may be the only engine that helps China’s economy. We expect investment in infrastructure to be the second driver to pick up in the coming months.”

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