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China's International Trade Strongly Rebounds
2021-07-04 08:40chinapaperonline.com
Following the general recovery of the economy after the assault of COVID-19 in early 2020, China's commodity trade with the outside world is making its strong headways. Data from China's Ministry of Commerce showed that in the first five months of 2021, combined value of the country's commodity import and export trade exceeded US$2.27 trillion, up +38% from the same but pandemic stricken period of 2020 and also +27% from of 2019 without the impacts of the pandemic. In May 2021 alone, overall trade activities were able to keep the momentum of April and grew +37.4% from a year ago to US$482.31 billion.

Export is again leading the show! In May, China's export, though flat from April, was able to add US$263.92 billion to the five-month shipment of nearly US$1.24 trillion dollars of goods to foreign markets, surging +40% from that of 2020! On the other hand, China imported more than US$1.03 trillion dollars of goods from foreign countries in the five-month period, presenting a +36% increase from the corresponding period of 2020. As export rose more than import, the China's international trade surplus reached US$203.45 billion – the highest in the same period of the last five years!

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