A new report has unveiled a significant uptick in global digital trade, with the Chinese mainland at the forefront of this growth. Released on Wednesday during the ongoing third Global Digital Trade Expo in Hangzhou, Zhejiang Province, the Global Digital Trade Development Report 2024 is a collaboration between the International Trade Centre (ITC) and the Global Digital Trade Expo Committee.
The report highlights that global digital trade surged to $7.13 trillion in 2023, up from $6.02 trillion in 2021, marking an average annual growth rate of 8.8 percent. The European Union, the United States, and the Chinese mainland emerged as the primary drivers of this expansion, which encompasses the online exchange of goods and services.
Ashish Shah, director of ITC's Division of Country Programmes, emphasized the transformative impact of digital trade, extending beyond e-commerce to include the seamless movement of goods, services, and data. \"Digital trade has revolutionized how businesses operate globally, enabling efficiency and connectivity like never before,\" Shah stated.
The report also sheds light on the pivotal role of artificial intelligence in reshaping digital trade. AI technologies are optimizing supply chains, enhancing customer interactions, and driving innovations that contribute to a more connected and efficient global economy.
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Report: China plays key role in rapid rise of global digital trade
cgtn.com
