Beijing (TDI): China retained its position as world’s largest merchandise exporter in 2024, with a share of 14.6% of total global exports, according to the latest data published by the World Trade Organization (WTO).
Despite a challenging global environment characterized by geopolitical tensions, inflationary pressures, and slower global economic recovery, Chinese exports remained resilient.
The WTO “Global Trade Outlook and Statistics 2025” report indicated that China’s merchandise exports stood at an estimated $3.39 trillion, up marginally from $3.38 trillion in 2023.
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The report pointed out that world merchandise trade increased by 1.2% in volume terms during 2024, recovering modestly from a decline of 1.3% in 2023. China’s sustained high export volume played a major role in this recovery, reaffirming its central position in the global supply chain.
In terms of major export destinations, the United States, European Union, and ASEAN nations continued to be among China’s biggest trading partners. Chinese exports to Belt and Road Initiative (BRI) nations also increased steadily, as per Beijing’s policy of deepening economic ties with emerging economies.
While exports were robust, China’s import numbers posted moderate growth, at around $2.58 trillion, to support a large trade surplus. The performance of exports was credited by China’s Ministry of Commerce to the diversified industrial base of the country, robust logistics infrastructure, and quick response to changing global market needs.
WTO economists also pointed out that China’s position in the global trade has been changing with greater focus being laid on high-value products, green technology, and digital output. Sales of electric cars, lithium batteries, and solar-related products were the fastest-growing commodity categories in 2024.
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The Chinese authorities confirmed their adherence to greater opening-up of the economy and deepened trade facilitation. They asserted the role of multilateralism and sustaining balanced global trade in the face of growing protectionism in some parts of the world.
With trends in global trade changing constantly, China’s consistent performance reaffirms its position as a pillar of international trade.
Experts anticipate that innovation, digitalization, and strategic regional alliances will continue to influence the future of China’s export economy.
Areeba Kanwal is a contributor at The Diplomatic Insight and has passion for International Relations and diplomacy.
