BEIJING, Jan. 14 — China’s total goods imports and exports expanded 1.9 per cent year on year to 32.16 trillion yuan (about US$5 trillion) in 2020, hitting a record high despite a worldwide slump in shipments, reported Xinhua news agency.
Exports rose 4 per cent while imports went down 0.7 per cent, according to data provided by the General Administration of Customs (GAC) on Thursday. In December alone, exports surged by 10.9 per cent year on year in yuan terms.
China emerged from the global economic and trade challenges in 2020 as the world’s only major economy to have registered positive growth in foreign trade in goods, GAC spokesperson Li Kuiwen told a news conference.
During the first 10 months of last year, the country’s foreign trade and exports accounted for 12.8 per cent and 14.2 per cent of the world’s total, respectively, both reaching historic highs, Li said, citing data from the World Trade Organisation and available national statistics.