China has retained its position as the world’s leading merchandise exporter for the seventh consecutive year in 2023, holding a 14.2 percent share of global exports, according to the Ministry of Commerce. This figure remains consistent with the 2022 level, showcasing China’s enduring strength in international trade.
The ministry made these remarks following the release of the latest edition of the World Trade Organization’s (WTO) Global Trade Outlook and Statistics. The report anticipates a gradual recovery in world merchandise trade volumes in 2024 and 2025, after a contraction predicted for 2023.
China also secured its place as the world’s second-largest merchandise importer in 2023, with a 10.6 percent share of global imports, mirroring its performance in 2022. The Ministry of Commerce highlighted that despite challenges in the global economic recovery, China’s trade has demonstrated strong resilience and stability.
“China’s quality products continue to be welcomed by the global market, and imports into our large domestic market are contributing to economic growth in other countries,” the ministry stated. This underscores China’s role not only as a major exporter but also as a significant importer driving global economic activity.
However, the WTO report cautioned about substantial uncertainties impacting the global economy, including regional conflicts, geopolitical tensions, and a rise in protectionist measures. These factors could influence trade forecasts and require close monitoring by businesses and investors worldwide.
The sustained performance of China in global trade signifies its influential role in international markets, offering insights for business professionals, investors, and academics interested in Asia’s dynamic economic landscape.
