China's trade in goods generates $608 bn surplus in 2023

Source:China Sport ShowRelease time:26-Feb-2024Clicks:

Article From：fibre2fashion

China's trade in goods yielded a substantial surplus of $608 billion last year, marking the second-highest level on record, as per data released by the State Administration of Foreign Exchange.

The country's foreign exchange regulator revealed that China's current account surplus reached $264.2 billion in 2023.

Maintaining a healthy balance, the current account surplus-to-gross domestic product (GDP) ratio stood at 1.5 per cent, deemed reasonable by the administration.

The robust surplus can be attributed to the quarter-by-quarter expansion of China's foreign trade, propelled by the ongoing economic recovery trend, Chinese media reports quoted administration’s spokesperson Wang Chunying as saying.

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