China Announced 18.1 Percent Trade Surplus

China announced 18.1 percent trade surplus. The country increased its exports by 18.1 percent in December 2020 compared to last year and set a new record. The export boom in China, which threw the dust of the coronavirus epidemic, continued in December. This has brought the trade surplus to record levels this month. As the epidemic continues to spread around the world, trade has soared with the demand for technologies and healthcare equipment that will enable working from home. While there is a bottleneck at ports due to strong demand, producers also complain about the shortage of containers and therefore increasing costs. With China rapidly taking the epidemic under control last year, factories started working to meet global demand while their rivals struggled with quarantine measures. It is estimated that this increase in exports will continue after the start of vaccination and the recovery of production in the USA and Europe. China's exports increased by 18.1 percent in December compared to the previous year, while its imports increased by 6.5 percent. While the average expectation of economists participating in the Bloomberg survey on the trade surplus was $ 72 billion, China announced a trade surplus of $ 78.2 billion in December.