China Current Account to GDP

China's current account surplus widened to USD 401.9 billion in 2022, the equivalent to 2.2 percent of the GDP, and up 14 percent compared to 2021, revised data showed. It was the largest current account surplus since 2008, as the goods surplus hit a record high of USD 668.6 billion, with exports rising 4 percent and imports increasing at a slower 1 percent on the back of a weakening domestic economy. At the same time, the services deficit narrowed by 9 percent to USD 92.3 billion, as the deficit in the use of intellectual property rights fell 11 percent, while the surpluses of telecommunications, computer information services, and other commercial services increased by 66 and 24 percent, respectively.