China’s Exports to U.S. Grew 69.6% in Two Months

China’s General Administration of Customs (GAC) reported Sunday that total exports grew by 32.2 percent in the first two months of 2021.

China’s state-run Xinhua news service quoted the GAC claiming trade with the Association of Southeast Asian Nations (ASEAN), collectively China’s largest trading partner, grew 32.9 percent in January and February. Trade with the European Union grew by 39.8 percent, while trade with partners in China’s Belt and Road infrastructure initiative grew by 23.9 percent.

The biggest trade surge of all occurred in China’s exports to the United States, which grew by 69.6 percent according to the GAC.

Reuters last week quoted estimates that the dollar value of Chinese exports grew by 154.9 percent compared to February 2020, which was one of China’s worst months during the coronavirus pandemic.

Reuters quoted Chinese customs officials crediting the growth in exports to increased demand for Chinese goods from the United States and Europe thanks to economic stimulus measures implemented by those countries, and because many Chinese firms and their employees decided to forego the usual Lunar New Year holiday break.

“Our survey showed a lot of firms in export-oriented provinces stayed open, and orders that usually only get delivered after the new year had been delivered normally,” the GAC said.

The Chinese customs agency estimated that even compared to “normal years,” rather than the coronavirus-depressed figures from early 2020, China’s overall trade volume grew by about 20 percent.

The South China Morning Post (SCMP) found demand was especially strong for Chinese-made “medical equipment and supplies, as well as home office and entertainment equipment.” 

“The strong rise in imports also indicates strong domestic demand resulting from the nation’s ongoing economic recovery from the coronavirus pandemic,” the SCMP added.

The GAC postulated some of the surge in domestic demand came from Chinese companies “stocking up” in advance on materials needed to meet growing demand as the world economy recovers from the pandemic.

Reuters reported Tuesday that German exports rose unexpectedly in January, driven by “robust trade with China.” Germany’s exports were expected to decline by 1.2 percent, but rose 1.4 percent instead.