我国外贸上半年“成绩单”出炉！突破21万亿元、增长6.1%！浙江同比增长7.8%

This article releases China's overall foreign trade performance for the first half of 2024 and key trade data for Zhejiang province. The key takeaways are as follows:

1. Core national-level data: China's total goods trade import and export value reached 21.17 trillion yuan in H1, up 6.1% year-on-year, marking the first time the figure has exceeded 21 trillion yuan for the period. Growth accelerated to 7.4% in the second quarter, 2.5 percentage points higher than Q1 2024 and 5.7 percentage points higher than Q4 2023. Imports and exports grew across all trade modes, major trading partners, and types of business entities.

2. Core data for Zhejiang: Zhejiang's total import and export value hit 2.56 trillion yuan in H1, up 7.8% year-on-year. The province ranks 3rd nationwide in total trade and 2nd in total exports. Private enterprises contributed over 90% of Zhejiang's trade growth, exports from traditional industries outperformed the national average, and import and export growth turned positive across multiple developed markets.

The latest foreign trade data published in this article provides valuable reference for foreign trade brand owners to identify industry trends and adjust their market layout. Key insights are as follows:

1. Product demand trends: Mechanical and electrical products account for nearly 60% of China's total exports, with double-digit growth recorded for automatic data processing equipment, integrated circuits, and automobiles. In Zhejiang, exports of ships, automatic data processing equipment, and home appliances posted strong growth. These trends indicate robust overseas demand for high-value-added mechanical and electrical products and consumer electronics, making these categories priority areas for brand layout.

2. Market layout reference: ASEAN remains China's largest trading partner, with bilateral trade growing 10.5% year-on-year in H1. Trade with countries participating in the Belt and Road Initiative grew 7.2% year-on-year, and multiple developed markets saw Zhejiang's trade turn from contraction to growth. Brands are advised to allocate resources to both growing emerging markets and recovering developed markets.

3. Operating direction reference: Private enterprises currently account for 55% of China's total foreign trade value, and the share reaches 80.7% in Zhejiang. Private brands boast strong growth momentum, leaving ample room for small and medium-sized private brands to expand.

The latest foreign trade data released in this article helps cross-border sellers clarify market direction and capture growth opportunities. Key takeaways are as follows:

1. Growth market opportunities: Among emerging markets, ASEAN, China's largest trading partner, recorded 10.5% bilateral trade growth in H1, while trade with Belt and Road Initiative participating countries grew 7.2%, offering ample room for expansion. Among developed markets, Zhejiang's trade with the U.S., Australia and other developed economies turned from decline to growth, with Zhejiang's trade with the U.S. growing 12.8% to signal a clear recovery. Sellers can prioritize expanding into diversified markets based on these trends.

2. Product selection opportunities: Mechanical and electrical products account for nearly 60% of total exports, with strong growth recorded for automatic data processing equipment, automobiles, ships and home appliances. Import demand for bulk commodities remains stable. Sellers can adjust their product mix accordingly.

3. Overall trend assessment: China's overall foreign trade growth continues to improve, with Q2 growth significantly outperforming both Q1 2024 and Q4 2023, pointing to an overall upward trajectory. Sellers can leverage the cyclical upswing to expand their business.

The latest foreign trade data disclosed in this article provides clear reference for export-oriented manufacturing factories to understand market demand and capture business opportunities. Key insights are as follows:

1. Production demand reference: Mechanical and electrical products account for nearly 60% of China's total exports, with double-digit growth achieved for automatic data processing equipment and its components, integrated circuits, and automobiles. In Zhejiang, export growth for ships, home appliances, and labor-intensive products far outpaces the national average. Relevant factories can adjust their capacity allocation around these high-growth categories.

2. Business opportunities: China's total foreign trade volume hit a record high for the first half of the year. Trade with emerging markets including ASEAN and Belt and Road Initiative participating countries maintains solid growth, while developed markets are gradually recovering. Factories can pursue orders from multiple markets to reduce the risk of volatility from over-reliance on a single market.

3. Development takeaways: Private enterprises are the core driver of current foreign trade growth, with private factories in Zhejiang contributing over 90% of the province's trade growth and demonstrating strong vitality. Factories can leverage the current positive foreign trade trend to advance digital transformation, connect with overseas buyers, and expand cross-border business.

The foreign trade operational data for H1 released in this article provides a basis for foreign trade-related service providers to assess industry trends and identify customer demand. Key takeaways are as follows:

1. Overall industry trend: China's total foreign trade volume exceeded 21 trillion yuan in H1, hitting a record high for the period. Growth in Q2 was notably higher than in Q1 2024 and Q4 2023, pointing to a sustained overall upward trend. As a result, overall market demand for foreign trade-related services will continue growing.

2. Customer demand and pain point identification: Imports and exports grew across all types of business entities, with private enterprises accounting for more than half of total national trade, and as much as 80% in Zhejiang. Demand from private players for supporting services including cross-border logistics, customs clearance and digital marketing will continue to rise. Meanwhile, import and export via bonded logistics grew 16.6% year-on-year, far outpacing overall foreign trade growth, indicating a sharp increase in demand for bonded logistics and supply chain services.

3. Business direction reference: Service providers can develop tailored niche service solutions targeting high-growth mechanical and electrical product segments and small and medium-sized private foreign trade entities to capture market growth opportunities.

The latest foreign trade development disclosed in this article provides reference for foreign trade platforms to adjust seller recruitment strategies, optimize operations, and mitigate growth risks. Key insights are as follows:

1. Adjusting recruitment focus: High foreign trade growth is concentrated in mechanical and electrical products, ships, automatic data processing equipment, and labor-intensive consumer goods, while private enterprises are the core driver of overall trade growth. In Zhejiang, the number of private enterprises with actual import and export performance grew 8.7% year-on-year. Platforms can increase recruitment efforts for private sellers operating in these high-growth categories.

2. Optimizing operational layout: On the market side, ASEAN and Belt and Road Initiative participating countries are recording fast growth, while multiple developed markets are seeing clear recovery. Platforms can optimize traffic allocation and logistics support for these markets to match growing demand.

3. Risk mitigation: Overall foreign trade growth continues to accelerate, with quarter-on-quarter improvement pointing to sustained upward momentum and relatively low overall industry risk. Platforms can leverage the industry upcycle to expand business, while guiding sellers to diversify their market布局 to reduce risks from single-market volatility.

The latest import and export data released in this article reflects the latest developments in China's foreign trade and provides first-hand data support for industrial research in the foreign trade field. Key takeaways are as follows:

1. New trends in industrial structure: China's foreign trade volume continues to hit record highs, with growth accelerating quarter over quarter. General trade accounts for 65% of total trade, and bonded logistics trade grew as much as 16.6% year-on-year, indicating continuous optimization of China's trade structure. The share of private enterprises in total trade has risen to 55%, making private entities the core driver of China's foreign trade growth.

2. New changes in market structure: ASEAN remains China's largest trading partner, and trade growth with Belt and Road Initiative participating countries outpaces the overall national growth rate, meaning emerging markets play an increasingly important role in supporting China's foreign trade growth. The shift from contraction to growth in Zhejiang's trade with multiple developed markets signals a gradual recovery in demand from developed overseas markets.

3. Implications for future research: China's export structure is shifting toward high-value-added mechanical and electrical products, with multiple categories recording strong growth, indicating continued improvement in China's foreign export competitiveness. Future in-depth industrial research can focus on topics including the growth of private foreign trade entities and the diversified layout of foreign trade markets.