China’S Exports Have Ranked First In The World For 15 Consecutive Years
The person in charge of the Foreign Trade Department of the Ministry of Commerce recently introduced China's international market share of trade in goods in 2023 and pointed out that in 2023, China's imports and exports were US$5.94 trillion, of which exports were US$3.38 trillion, accounting for 14.2% of the international market share, the same as in 2022. , ranking first in the world for 15 consecutive years; imports amounted to US$2.56 trillion, accounting for 10.6% of the international market share, a slight increase from 2022, and ranking second in the world for 15 consecutive years.
On April 10, local time, the World Trade Organization (WTO) released global trade in goods data for 2023. Data show that in 2023, China's exports will account for 14.2% of the international market share, and imports will account for 10.6% of the international market share, both basically the same as in 2022. Against the backdrop of a difficult recovery for the world economy, China has maintained overall stability in its international market share and demonstrated strong development resilience.
The person in charge of the Foreign Trade Department of the Ministry of Commerce said that China has maintained its position as the largest country in goods trade for seven consecutive years. The stable import and export market share fully shows that relying on the integrated advantages of the production and supply chain and continuous innovation capabilities, China's various high-quality products are very popular in the international market. Relying on its ultra-large market advantage, China's imports have also provided strong impetus for the economic development of various countries.
In 2023, total global exports will be US$23.8 trillion, down 4.6%, declining again after two consecutive years of growth in 2021 and 2022. Among Asia's major export-oriented economies, China's exports fell by 4.6%, and those of South Korea, India, Vietnam and other countries fell by 7.5%, 4.7% and 4.7% respectively. Trade volume is a common indicator for observing trade activity. Global trade volume in goods will decrease by 1.2% in 2023. From the perspective of major market demand, import volumes from Europe, North America, and Asia will decrease by 4.7%, 2.0%, and 0.6% respectively.
China's trade performance in 2024 is worth looking forward to. The WTO predicts that global trade volume will grow by 2.6% in 2024, an increase of 3.8 percentage points from 2023. There are also some signs of recovery in the trade field in the first quarter of 2024. At the same time, the WTO also stated that uncertainties caused by geopolitical conflicts and protectionism are still rising significantly, and global trade is still likely to decline.
"In response to the severe and complex external environment, the Ministry of Commerce is working with various localities and departments to study and reserve a series of pragmatic and effective policy measures, focusing on cultivating new momentum for foreign trade and helping foreign trade companies expand markets." The person in charge of the Foreign Trade Department of the Ministry of Commerce pointed out that China We will continue to promote high-level opening up, deepen close cooperation with various trading partners, and strive to make new positive contributions to the recovery of global trade.
