China’s trade surplus widened to USD 115.95 billion in January – February 2022 combined from USD 97.05 billion in the same month a year earlier, easily beating market forecasts of USD 99.5 billion. Export extended their double-digit growth, increasing by 16.3 percent from a year earlier, while imports rose at a softer 15.5 percent. Data for January and February are combined to smooth out the impact of the Lunar New Year holiday, which can fall in either month. This year, the week-long holiday started on January 31st.
China’s trade surplus with the US stood at USD 59.77 billion in the first two months of the year, amid reports that the Biden administration is mulling a new China tariff investigation. In 2021, China’s trade surplus notched a record high of USD 676.4 billion, with exports and imports growing by 29.9% and 30.1%, respectively. China’s trade surplus with the US in 2021 was at USD 396.58 billion, a jump of 25% from 2020.