Jan.-Feb.: China's service trade surges by 33.5%
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Loading... - Muyang Liang
- 07 Apr 2022
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China's service trade maintained momentum in the first two months of this year, jumping by 33.5 percent year on year to nearly 953.5 billion yuan (about $146.6 billion), the Ministry of Commerce said on Wednesday.
Of the total, service exports reached about 467.6 billion yuan, up 39.4 percent year on year, and service imports stood at 485.9 billion yuan, increasing 28.3 percent year on year.
The growth of service trade exports outpaced import growth by 11.1 percentage points, resulting in a 57.6-percent drop in the service trade deficit.
The service trade deficit stood at 18.3 billion yuan, 24.9 billion yuan less than in 2021, according to the Ministry.
Trade in knowledge-intensive services raked in 382.4 billion yuan, up 17.9 percent year on year.
Knowledge-intensive service exports gained by 20.3 percent to 219.7 billion yuan, while knowledge-intensive service imports rose by 15 percent to 162.7 billion yuan.
Travel services recovered during the period, as trade in the sector advanced by 16.9 percent from last year to 149.8 billion yuan. Read More...
