China’s exports grew by 6.9% in H1 2024, reaching RMB 12.13 trillion, driven by high-tech sectors. Trade surplus was US$435 billion.
China’s Export Growth in H1 2024 Driven by High-Tech Sectors
China’s exports surged by 6.9% in the first half of 2024 to RMB 12.13 trillion, fueled by sectors like integrated circuits and automobiles. Despite tensions, trade with ASEAN and Latin America rose while trade with the EU, US, Japan, and Australia declined. China’s trade surplus hit US$435 billion, showcasing its robust economic performance.
China’s Foreign Trade Expansion in H1 2024
In H1 2024, China’s foreign trade reached US$2.98 trillion, a 2.9% increase YoY in dollar terms, with a trade surplus of US$435 billion, up 8.6% YoY. Key export sectors such as integrated circuits and automobiles contributed significantly to the strong performance, highlighting China’s growing position in high-tech and automotive markets amidst evolving global trade dynamics.
