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China Retains Top Spot as Global Merchandise Exporter in 2023

Beijing, April 13, 2024, The Europe Today: The Ministry of Commerce of China has confirmed that China maintained its position as the leading global merchandise exporter for the seventh consecutive year in 2023, accounting for 14.2 percent of world exports, according to official statements released today.

In response to the latest edition of the World Trade Organization’s (WTO) “Global Trade Outlook and Statistics,” the ministry highlighted that China’s share in world exports remained stable, nearly identical to the levels observed in 2022, demonstrating sustained export strength amid global economic challenges.

Additionally, the ministry disclosed that China retained its status as the second-largest merchandise importer in 2023, capturing 10.6 percent of global imports, a figure consistent with the previous year’s statistics.

Despite the formidable hurdles facing the global economy, the ministry underscored China’s unwavering resilience in world merchandise trade, indicative of robust growth and enduring market demand for Chinese products.

The ministry attributed this sustained performance to the international market’s continued embrace of China’s high-quality goods, coupled with the reciprocal benefits derived from robust imports into China’s expansive domestic market, which have played a pivotal role in fostering economic growth globally.

The recent WTO report emphasized a cautious optimism for the future, projecting a gradual rebound in global merchandise trade volume in 2024 and 2025 following a contraction experienced in 2023. Nevertheless, the report also sounded a note of caution, highlighting significant uncertainties stemming from various risk factors in the global economy, including regional conflicts, geopolitical tensions, and escalating protectionist measures.

The Ministry of Commerce reiterated China’s commitment to promoting open and inclusive trade policies while navigating through the prevailing challenges. China remains dedicated to contributing positively to the stability and growth of global trade and reaffirms its role as a key driver of the international marketplace.