China’s exports surged to a record high in 2024, providing a much-needed boost for the economy as the prospect of biting tariffs imposed by US president-elect Donald Trump looms.
Overseas shipments represented a rare bright spot for Beijing last year as sluggish domestic consumption and a prolonged crisis in the property sector dragged on growth.
But Trump, who imposed sweeping tariffs on China during his first term in office, has threatened even heftier levies when he returns to the White House next week.
Exports have historically represented a key driver of activity for the world’s number two economy, which officials say is likely to have grown five percent last year.
Total exports in 2024 “exceeded 25 trillion yuan for the first time, reaching 25.45 trillion yuan ($3.47 trillion)… a year-on-year increase of 7.1 percent”, state broadcaster CCTV said.
Imports rose 2.3 percent to 18.39 trillion yuan, CCTV said, adding that …