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Chart: China’s Services Trade Deficit Shrinks on Decline in Overseas Travel

China’s services trade deficit has narrowed at a rapid pace since 2020 amid a sharp decline in overseas travel, official data show.

The country ran a widening trade deficit in services for years, with tourism being the primary driver. But the gap shrank in 2019 and at an accelerated rate after the outbreak of Covid-19 as countries around the world tightened travel restrictions, Wang Dongtang, an official at the Ministry of Commerce, said Tuesday in a press briefing.

Source : Caixin

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