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An in-depth analysis of China’s foreign trade export situation in 2024, and the year’s foreign trade ended successfully!

Date:2025-01-20View:67Tags:Rectangular steel pipe,HFW steel pipe,Seamless line pipe
Behind every piece of foreign trade export data lies huge market opportunities and challenges.

Today, we deeply analyze the details of China's foreign trade exports in 2024 to provide a strong reference for foreign trade companies to carry out precise marketing in the global market.


1. Export Scale and Growth Trend

In 2024, China's exports exceeded 25 trillion yuan for the first time, reaching 25.45 trillion yuan, a year-on-year increase of 7.1%, maintaining growth for eight consecutive years. This strong growth trend not only reflects the strong resilience of China's manufacturing industry, but also highlights China's core position in the global supply chain. In December, the scale of imports and exports exceeded 4 trillion yuan for the first time, setting a new monthly record. The growth rate increased to 6.8%, maintaining growth for nine consecutive months.

 China's foreign trade exports experienced explosive growth at the end of the year, adding a strong stroke to the successful conclusion of the year's foreign trade.


2. Optimization of export product structure

1. Significant growth in exports of mechanical and electrical products

 In 2024, the export of mechanical and electrical products increased by 8.7%, accounting for 59.4% of the total export value. Among them, exports of integrated circuits increased by 18.7%, flat panel display modules increased by 18.1%, and ships and marine engineering equipment increased by 60.1%.


2. Green trade and high-tech product exports become highlights

 Green trade leads the world. In 2024, China's wind turbine exports increased by 71.9%; photovoltaic product exports exceeded 200 billion yuan for four consecutive years; and lithium battery exports reached 3.91 billion, a record high.

 At the same time, more new products with high-tech attributes are accelerating their overseas exports. For example, exports of electric vehicles, 3D printers, and industrial robots increased by 13.1%, 32.8%, and 45.2%, respectively.


3. Diversification of export markets

1. Traditional markets maintained steady growth

 China's exports to traditional major trading partners such as ASEAN and the EU continued to maintain steady growth. In 2024, imports and exports with ASEAN increased by 9%. my country and ASEAN have been each other's largest trading partners for five consecutive years.

 As China's second largest trading partner, the EU's bilateral trade volume has also achieved steady growth. The steady growth of these traditional markets provides a solid foundation for China's foreign trade exports.


(II) Significant achievements in the expansion of emerging markets

 In 2024, China's imports and exports with countries participating in the Belt and Road Initiative reached 22.07 trillion yuan, a year-on-year increase of 6.4%. For the first time, China's imports and exports with countries participating in the Belt and Road Initiative exceeded 50% of China's total imports and exports.

 China has achieved remarkable results in expanding into emerging markets, and its foreign trade “circle of friends” is growing. In addition, China's exports to emerging markets such as Africa and Latin America have also shown a rapid growth trend, injecting new vitality into the diversified development of China's foreign trade exports.


IV. Policy support and market environment optimization

1. Policies help stabilize foreign trade growth

 On September 26, 2024, the Political Bureau of the CPC Central Committee decisively deployed a package of incremental policies, and a number of policy measures to promote the stable growth of foreign trade were quickly introduced, which effectively promoted the fourth quarter foreign trade to achieve a quarterly record high of 11.51 trillion yuan, an increase compared with the third quarter. The increase was 0.4 percentage points.

 These policies include expanding the scale and coverage of export credit insurance, increasing financing support for foreign trade companies, optimizing cross-border trade settlement, and promoting cross-border e-commerce.


(II) Continuous optimization of the customs clearance environment

 Customs continues to promote innovation in customs supervision services and strives to create a safe, convenient and efficient customs clearance environment. The customs clearance facilitation measures can be summarized as “excellent, simple and fast”.

 For example, in Guangdong Province, the “combined port” (“one port”) convenient customs clearance model was implemented, and the main links of import were reduced from 11 to 8, and the main links of export were reduced from 14 to 10. The average storage period of goods was reduced from the original The 5-7 days can be shortened to less than 2 days.


5. Challenges and opportunities facing foreign trade exports

1. Challenges

 Although China's foreign trade exports achieved remarkable results in 2024, it still faces many challenges. Factors such as the uncertainty of the global economic situation, the rise of trade protectionism, and geopolitical risks have brought certain pressures to China's foreign trade exports. In addition, with the intensification of global market competition, Chinese foreign trade enterprises are facing fierce competition from companies in various countries and need to continuously improve their innovation capabilities and core competitiveness to cope with market changes and challenges.


2. Opportunities

 The global market demand for Chinese goods remains strong: As a major global manufacturing country, China has a complete industrial system and strong production capacity, and is able to provide a rich variety of goods to the global market. As the global economy gradually recovers, countries' demand for Chinese goods remains at a high level, which provides a broad market space for China's foreign trade exports.


 Cooperation opportunities brought by the “Belt and Road” Initiative: The “Belt and Road” Initiative provides broad space and opportunities for trade cooperation between China and countries along the route. China's cooperation with countries along the Belt and Road in areas such as infrastructure construction, trade and investment, and cultural exchanges continues to deepen, which will promote trade between China and countries along the route and drive the sustained growth of China's foreign trade exports.

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