The country’s exports increased by 7.1 per cent YoY to 25.45 trillion yuan (~$3.563 trillion), while its imports expanded 2.3 per cent YoY to 18.39 trillion yuan (~$2.575 trillion) in 2024, as per the data.
China’s total goods trade reached 43.85 trillion yuan (~$6.1 trillion) in 2024, up 5 per cent YoY.
The exports increased by 7.1 per cent to 25.45 trillion yuan (~$3.563 trillion) and imports rose 2.3 per cent to 18.39 trillion yuan (~$2.575 trillion).
High-tech exports and cross-border e-commerce saw significant growth, supported by policies stabilising trade, and improved port operations.
China’s foreign trade growth last year was relatively fast compared to other major global economies, according to Wang Lingjun, the deputy head of GAC, as reported by a Chinese media outlet.
“China has become a major trading partner of more than 150 countries and regions, and the country’s circle of friends in foreign trade is getting larger,” added Lingjun.
China’s foreign trade structure improved last year with significant growth in high-tech exports and emerging trade models like cross-border e-commerce, according to the official. He attributed these achievements to timely policy measures from central authorities, efforts to stabilise trade, and 16 initiatives to enhance port operations and customs clearance. Additionally, special actions in 20 cities boosted cross-border trade facilitation, fostering a world-class, market-driven, and law-based port business environment.
China’s goods trade hits $6.1 tn in 2024, up 5% YoY: official data
