Mobile phones and computers represent major factors driving China’s highest trade surpluses by-product, while the United Kingdom and Singapore placed first and second respectively among trade partners at the expense of which the People’s Republic posted its highest positive trade balances.
China’s total trade balance for all products equaled a positive US$535 billion in 2020, doubling the $259 billion surpluses during 2013. Year over year, China’s recent $535 billion trade surplus reflects a 24.5% increase from a $429.6 billion surplus for 2019.
To put China’s trade surplus metric into perspective, the country’s total external debt encompassing both public and private red ink equaled -$2.294 trillion in September 2020. China’s external debt is the equivalent of roughly 4 times the magnitude of its positive international trade balance for commodities.
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