China posts record trade surplus in Dec and 2021 on robust exports

China posted a record trade surplus in December and in 2021, as exports outperformed expectations during a global pandemic, but some analysts pointed to a slowdown in international shipments in the coming months. The trade surplus hit $676.43 billion in 2021, the highest since records started in 1950, up from $523.99 bln in 2020, according to data from the statistics bureau.

China also posted a record trade surplus for the month of December as exports remained robust while import growth slowed sharply. China's hefty trade surplus with the United States, a key source of contention between the world's two biggest economies, hit $39.23 billion in December, widening from $36.95 billion the month before, but below this year's high of $42 billion in September.

China's exports outperformed expectations for much of 2021, but shipments have been slowing as an overseas surge in demand for goods eases and high costs pressure exporters. It was unclear how the Omicron coronavirus variant would affect that trend.