China's
trade surplus.-a narrowed to around $160 billion in 2011. the commerce
minister said Thursday. as the world's number two economy faced weaker
demand from key export market. The
drop from a 2010 trade surplus of $183 billion came after a year of
economic turmoil in key export markets including the United States and
Europe.
Minister
Chen Deming said total irade volume — imports and exports combined rose
more 20 percent to $3.6 trillion last year. according to the official
Xinhua News Agency. which gave no bncakdown for cxporis and imports.
China's trade surplus is politically sensitive. since the United States and other countries have
accused
Beijing of keeping its yuan currency artificially low to boast exports.
US officials have long charged that China was deliberately pursuing a
weak curxency. helping fuel a flow of cheap exports that helped send the
US trade deficit with China to mum than billion in 2010.
Chinese leaders have pledged
lo boost domestic demand to counter slowing exports, a key driver oi the country's economic growih.
Chen
said last month China would IIIOUE lo “stabilise” its exports in 2012.
in the face of slowing demand due to the debt crisis and economic
turmoil in lhe industrialised world.
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