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China’s Goods Trade Surges 8.7% YoY in First Two Months of 2024

Beijing, March 07, 2024, The Europe Today: China’s total import and export of goods recorded a significant expansion of 8.7% year-on-year in yuan terms during the initial two months of 2024, according to official data released on Thursday by the General Administration of Customs (GAC). The country’s foreign trade in goods reached 6.61 trillion yuan (approximately 930.96 billion U.S. dollars) from January to February.

The data revealed robust growth in both exports and imports during this period. Exports surged by 10.3% year on year, reaching 3.75 trillion yuan, while imports experienced a notable increase of 6.7% from the same period in 2023, totaling 2.86 trillion yuan.

GAC official Lyu Daliang highlighted that China’s trade in goods has sustained the positive momentum observed in the fourth quarter of the previous year. This marks the fifth consecutive month of year-on-year growth, with imports and exports hitting a historic high during the first two months of 2024.

China’s trade performance in the early months of the year signifies resilience and continued expansion, contributing to the nation’s economic vibrancy and reinforcing its position as a key player in the global trade landscape.