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China reports 2020 exports rose 3.6% despite virus, US tariff war; trade surplus swells to $535 billion

BEIJING (AP) — China’s exports rose in 2020 despite pressure from the coronavirus pandemic and a tariff war with Washington, boosting its politically volatile trade surplus to $535 billion, one of the highest ever reported. Customs data show exports rose 3.6% over 2019 to $2.6 trillion, an improvement over the previous year’s 0.5% gain. Imports edged down 1.1% to just over $2 trillion.  China’s exporters benefited from the relatively early reopening of its economy and demand for masks and other Chinese-made medical supplies. Exporters have taken market share from foreign competitors that still face curbs imposed to fight the pandemic.

Biz/Tech

Associated Press

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