World Trade Organization (WTO) or other international trade organizations' reports

China's 2024 Trade Hits Record 43.85 Trillion Yuan, December Exports Up 10.7%

Jan 13, 2025, 03:02 AM

China's total goods imports and exports reached a record high of 43.85 trillion yuan ($5.98 trillion) in 2024, up 5% year-on-year, according to data released by the General Administration of Customs (GAC) on Monday. Exports increased by 7.1% to 25.45 trillion yuan, while imports rose by 2.3% to 18.39 trillion yuan. In December alone, China's imports and exports trade value exceeded 4 trillion yuan for the first time. December exports grew 10.7% year-on-year in US dollar terms, beating expectations, while imports increased 1%, marking the largest year-on-year growth in USD-denominated imports since July. The December trade surplus was $104.84 billion. Trade with Belt and Road Initiative partner countries grew by 6.4% year-on-year, accounting for over 50% of the country's total trade value for the first time. China and ASEAN remained each other's largest trading partners for the fifth consecutive year, with trade increasing by 9% year-on-year. China remains the world's largest trader in goods, with strong competitiveness in exports for the eighth consecutive year of growth.