China saw booming exports in 2024 as Trump tariffs loom

China’s exports reached a record 43.85 trillion yuan in 2024, marking a 5% year-on-year increase.

This growth provided a critical boost to the economy, which has been impacted by weak domestic consumption and ongoing challenges in the property sector. Imports also rose by 2.3%, totaling 18.39 trillion yuan, with China’s import growth surpassing the global average by one percentage point, according to the World Trade Organization.

This export growth comes amid ongoing uncertainty regarding potential tariffs under the incoming administration of President-elect Donald Trump.

Despite these challenges, China’s trade performance underscores its continued position as the world’s largest goods trading nation, offering resilience in the face of economic pressures.