China's 2021 total trade hits record high

China's total trade surged to an all-time high in 2021, as rising shipments to the United States and Europe and surging raw material costs pushed the annual total over the 6 trillion-dollar mark for the first time ever.

The total trade figure combines exports and imports. China's customs authorities said Friday that last year's total spiked 30 percent from the previous year to 6 trillion 51.4 billion dollars.

Exports jumped by 29.9 percent to 3 trillion 363.9 billion dollars, fueled by increased shipments of electronic devices and garments to the US and Europe, where economic activity rebounded from the pandemic.

Imports also rocketed by 30.1 percent to hit 2 trillion 687.5 billion dollars, mainly due to higher prices of energy and raw materials.

While the jump in exports is bolstering China's economy, the soaring raw material prices are weighing on businesses and contributing to an economic slowdown.

China's trade surplus with the US grew by 25 percent from a year earlier to around 390 billion dollars.

The widening trade imbalance could be a source of further friction between the two countries.