In the first half of 2024, the Chinese mainland's imports and exports of goods reached a total of 21.17 trillion yuan ($2.9 trillion), reflecting a 6.1 percent year-on-year increase. This marks the first time the scale of foreign trade for this period has exceeded 21 trillion yuan, setting a new record.
The Chinese mainland's foreign trade performed brilliantly in the first half of the year, showcasing strong resilience and vitality. This achievement is primarily manifested in the following two aspects:
1. Consistently High Monthly Trade Volume
Since the beginning of 2024, the Chinese mainland has maintained a high monthly trade volume. From March onwards, monthly trade volume has consistently stayed above 3.5 trillion yuan. Notably, May saw a trade volume of 4.06 trillion yuan, significantly higher than the monthly averages of 2021, 2022, and 2023.
2. Record-Breaking Export Scale
In the first half of the year, the Chinese mainland's import and export scale exceeded 21 trillion yuan for the first time in history for the same period. The growth rate of imports and exports increased on a quarterly basis. The 7.4-percent rise in the second quarter was 2.5 percentage points higher than in the first quarter and 5.7 percentage points higher than in the fourth quarter of last year. This further consolidated the momentum of foreign trade growth.
Reference(s):
China's H1 foreign trade data shows improved quality & quantity
cgtn.com
