China’s Services Exports Surge over 20% since Start of 2021, Imports Plunge by More Than 18%

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China has seen a sharp rise in its exports of services since the start of 2021, in tandem with a plunge in its services imports.

Foreign trade in services totalled 713.98 billion yuan for the months of January and February this year, for a YoY decline of 3.6%, according to figures released by the Ministry of Commerce on 8 March.

China’s services exports for the period totalled 335.35 billion yuan, for a YoY rise of 21.9%, while imports of services are 378.63 billion yuan, for a decline of 18.6%.

China’s exports of knowledge intensive services for the period from January to February rose 17.2% YoY to reach 324.16 billion yuan.

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