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China’s foreign trade sets new record in 2024

China's imports and exports grew by 5 percent year-on-year in 2024 to reach 43.85 trillion yuan ($5.98 trillion), with the total foreign trade volume setting a new record high, according to data released by the General Administration of Customs (GAC) on Monday.

In 2024, China's total exports grew by 7.1 percent year-on-year to reach 25.45 trillion yuan. Imports grew by 2.3 percent to hit 18.39 trillion yuan, the customs data showed.

China remains the world's largest trader in goods in 2024. China has become a major trading partner for over 150 economies, and its circle of foreign trade partners continues to expand, according to the GAC.

China's trade growth last year reached 2.1 trillion yuan, matching the annual trade volume of a medium-sized economy, Wang Lingjun, deputy head of the GAC, said at a press conference on Monday.

China's role as a major trading partner with global partners was highlighted. For example, China's trade volume with Belt and Road Initiative (BRI) partner countries grew by 6.4 percent year-on-year, accounting for more than 50 percent of the nation's total trade for the first time.

For more information visit Global Times, 2025, GAC, 2025

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