China-APEC trade hits record high in ’24

China’s trade with other Asia-Pacific Economic Cooperation (APEC) economies reached a record high of 21.27 trillion yuan ($2.95 trillion) in the first ten months of 2024, a 5.7 per cent increase year-on-year. This growth outpaced China’s overall trade growth by 0.5 percentage points.

Intermediate goods accounted for a significant portion of China’s trade with APEC economies. Over 45 per cent of exports consisted of electronic components, auto parts, and other high-tech products. Similarly, imports were dominated by intermediate goods such as machinery, energy products, and metal ores.

Attribution: Xinhua

Subediting: M. S. Salama