Trade Logistics

On April 10th, the World Trade Organization (WTO) released the global merchandise trade data for 2023.

According to information from the Ministry of Commerce website, the head of the Foreign Trade Department of the Ministry of Commerce stated that in 2023, China's international market share for exports was 14.2% and for imports was 10.6%, both remaining relatively stable compared to 2022.

Against the backdrop of a challenging global economic recovery, China maintained overall stability in its international market share, demonstrating considerable development resilience.

Global merchandise exports experienced their first decline in three years. In 2023, global exports totaled $23.8 trillion, a decrease of 4.6%, marking a reversal from the consecutive growth in 2021 and 2022.

Among the major export-oriented economies in Asia, China's exports declined by 4.6%, while countries like South Korea, India, and Vietnam experienced declines of 7.5%, 4.7%, and 4.7%, respectively.

Professor Cui Fan from the School of International Economics and Trade at the University of International Business and Economics stated that although China's merchandise trade exports decreased in 2023 compared to 2022, its share in the global market remained stable.

Trade volume is a commonly used indicator to observe trade activity. In 2023, global merchandise trade volume declined by 1.2%. Looking at the major market demands, imports in Europe, North America, and Asia decreased by 4.7%, 2.0%, and 0.6%, respectively.

The head of the Foreign Trade Department of the Ministry of Commerce stated that China's international market share for exports stands at 14.2%, maintaining its position as the world's largest goods trading nation for seven consecutive years.

In 2023, China's total imports and exports reached $5.94 trillion, with exports totaling $3.38 trillion, maintaining a global market share of 14.2%, unchanged from 2022, and retaining the global top spot for 15 consecutive years. Imports amounted to $2.56 trillion, with a global market share of 10.6%, slightly up from 2022, and maintaining the global second position for 15 consecutive years.

The head of the Foreign Trade Department of the Ministry of Commerce stated that the stable market share in imports and exports fully demonstrates that China's various high-quality products are highly welcomed in the international market, thanks to the integrated advantages of the production and supply chain and continuous innovation capabilities. Leveraging its massive market advantages, China's imports also provide strong impetus for the economic development of various countries.

Professor Sang Baichuan, Dean of the International Economics Research Institute at the University of International Business and Economics, expressed that during the pandemic, there was a strong demand from the international community for high-quality and affordable Chinese goods. China has effectively coordinated to maintain its supply capacity, thus better meeting the demands of the international market. Consequently, China's export growth rate during this period surpassed the global average. Additionally, due to the relatively orderly conduct of production within China, this has stabilized import demand, particularly for investment goods.

"The 'New Three' products became a highlight of China's exports last year. There is a strong international demand for new energy, such as new energy vehicles, reflecting changes in consumer attitudes and international consensus on altering energy structures in response to global climate change," said Professor Sang Baichuan