The surplus represents the pressure of local currency appreciation, so the central bank intervened in the foreign exchange market, sold local currency to collect foreign currency, and the money supply increased. Without effective disinfection, it may lead to inflation.

A large trade surplus is not necessarily good. Too high a trade surplus is a dangerous thing, which means that the country's economic growth is more dependent on external demand than at any time in the past few years, and its dependence on foreign countries is too high. The huge trade surplus has also brought about the expansion of foreign exchange reserves, which has brought greater appreciation pressure to the domestic currency. (except Germany)

Expand the advantages of data

1. Trade surplus promotes economic growth. First, the current account trade surplus stimulates economic growth.

First, the current account trade surplus stimulates domestic aggregate demand and promotes economic growth. The current account trade surplus mainly comes from the increase of net exports, which is the result of the rapid growth of China's foreign trade, especially exports. The increase of net export makes the domestic total demand expand, and the expansion of domestic total demand promotes the growth of national economy.

Second, the multiplier effect of net exports has expanded the scale of economic growth. The current account trade surplus is mainly the result of the increase in net exports. The increase of net exports has a multiplier effect on foreign trade. Under the multiplier effect of foreign trade, the scale of economic growth is several times that of net exports, which is greater than the current account trade surplus.

2. The trade surplus increases the foreign exchange reserves, enhances the comprehensive national strength, helps to maintain the international reputation, and improves the ability of foreign financing and introducing foreign capital. Since 1994, China's balance of payments has maintained a trade surplus, except for 1998, which was affected by the Asian financial crisis and caused a deficit in capital account. With the increase of trade surplus, foreign exchange reserves are also growing rapidly, and by the end of 2003, foreign exchange reserves have exceeded 4 billion/kloc-0 billion dollars.

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