A new report unveiled at the third Global Digital Trade Expo in Hangzhou, Zhejiang Province, has highlighted China’s leading role in the remarkable growth of global digital trade in recent years.
The Global Digital Trade Development Report 2024, a collaborative effort between the International Trade Centre (ITC) and the Global Digital Trade Expo Committee, revealed that global digital trade reached $7.13 trillion in 2023, up from $6.02 trillion in 2021, marking an average annual growth rate of 8.8 percent.
According to the report, the European Union, the United States, and China have been primary drivers of this expansion, propelling the exchange of goods and services ordered or delivered online to unprecedented levels.
Ashish Shah, director of ITC’s Division of Country Programmes, emphasized the transformative impact of digital trade, noting that its influence has extended beyond e-commerce to the seamless movement of goods, services, and data.
“Digital trade is reshaping the global economy, and its effects are being felt across all sectors,” Shah remarked.
The report also highlighted the significant role of artificial intelligence in digital trade, contributing to optimizing supply chains and enhancing customer interactions.
As digital technologies continue to evolve, China’s commitment to technological innovation has positioned it at the forefront of this global trend, fostering a more connected and efficient global economy.
With digital trade expected to continue its rapid growth, the collaborative efforts of leading economies like China, the EU, and the US are crucial in shaping the future landscape of global commerce.
Reference(s):
Report: China plays key role in rapid rise of global digital trade
cgtn.com
