Sharjah24 - AFP: In 2024, China's exports reached a new high, according to official media on Monday, as the threat of harsh tariffs from US President-elect Donald Trump looms.
Bright Spot in China's Economy
Overseas shipments represented a rare bright spot in China's economy last year. This occurred as sluggish domestic consumption and a prolonged crisis in the property sector dragged on growth.
Record Exports
Total exports last year exceeded 25 trillion yuan for the first time, reaching 25.45 trillion yuan ($3.47 trillion). This marked a year-on-year increase of 7.1 percent, according to state broadcaster CCTV.
Import Growth
Imports totaled 18.39 trillion yuan, showing a rise of 2.3 percent on the year. CCTV reported that combined trade swelled by five percent, reaching a record 43.85 trillion yuan.
Impact of Tariffs
Former President Trump imposed sweeping tariffs on China during his first term in office. He has also threatened even heftier levies upon his potential return to the White House next week.
For an optimal experience, please
