BEIJING (AFP) – China’s exports surged to a record high in 2024, state media reported Monday, as the prospect of biting tariffs imposed by US president-elect Donald Trump looms.
Overseas shipments represented a rare bright spot in China’s economy last year as sluggish domestic consumption and a prolonged crisis in the property sector dragged on growth.
Total exports last year “exceeded 25 trillion yuan for the first time, reaching CNY25.45 trillion (USD3.47 trillion)… a year-on-year increase of 7.1 per cent”, state broadcaster CCTV said.
Imports totalled CNY18.39 trillion, a rise of 2.3 per cent on-year, CCTV said, adding that combined trade swelled five percent to reach a record CNY43.85 trillion.
Trump imposed sweeping tariffs on China during his first term in office and has threatened even heftier levies when he returns to the White House next week.
