Ministry of Commerce: The trade deficit in services dropped 69.5 percent last year to the lowest level in a decade

2022-05-27 0 By

On January 30, the official of the Department of Service Trade of the Ministry of Commerce introduced the development of service trade in 2021.In 2021, China’s trade in services continued to grow rapidly, with total imports and exports of services reaching 5.298.27 billion yuan, up 16.1% year on year.Of this amount, service exports reached 2,543.5 trillion yuan, up 31.4%;Imports totaled 2.75477 trillion yuan, up 4.8%.The growth rate of service exports was 26.6 percentage points higher than that of imports, driving the deficit in service trade to drop 69.5 percent to 211.28 billion yuan, down 481.65 billion yuan year-on-year, the lowest since 2011.(Ministry of Commerce website) Daily economic news