Among many industries, the export popular industries performance of several industries was particularly outstanding, showing strong growth dynamics.
Shipbuilding Industry
The export growth rate of the shipbuilding industry reached 101%, far exceeding that of other industries, demonstrating its competitiveness in the global market. This significant growth may be closely related to the recovery of global trade and the continuous progress of China’s shipbuilding industry in technological innovation and cost control.
The popular industries automotive
industry showed significant export growth in April 2024, up 21.2% year-on-year. This strong growth shows that the competitiveness of China’s automotive popular industries industry in the global market continues to improve and benefits from many factors.
In recent years, Chinese brand cars have made significant progress in design, performance and environmental protection technology, which makes Chinese-made cars more in line with the needs and standards of the international market, especially in the field of electric vehicles and new energy vehicles. With the dual drive of technological progress and market expansion, it is expected that China’s automobile exports will continue to maintain growth momentum in the future.
Exports of the integrated
circuit industry achieved a 19.1% increase in April 2024. In recent years, both the Chinese government and the private sector have made significant investments in why is essential for retaining millennial customers integrated circuit manufacturing technology and R&D.
Policy support at the government level is also an important factor driving the growth of integrated circuit exports. At the same time, from a global perspective, the demand for technologies such as high-performance computing, smart devices and the Internet of Things continues popular industries to rise, further driving the demand for high-quality integrated circuits.
Home appliance industry:
Exports in the home appliance industry grew by 12.6% year-on-year, thanks to the continued demand for high-quality home appliances from global consumers. Chinese dear customer, let’s get to work home appliance companies have occupied a larger share of the international market with advanced technology, excellent quality and reasonable pricing.
The outstanding performance of these industries not only reflects the overall strength of China’s foreign trade, but also highlights the core role of domestic enterprises in the global supply chain and their positive contribution to the foreign trade economy.
Which foreign trade markets are worth paying attention to in 2024?
The rising transaction data has boosted confidence in conducting global business. In addition to the continued growth in countries such as Russia and Vietnam, some fax marketing other countries and regions have also begun to show a growth trend. In 2024, several key foreign trade markets will become the focus of global trade.
Southeast Asian market:
China’s trade relations with ASEAN countries continue to show strong growth momentum. ASEAN has become China’s largest trading partner for the fourth consecutive year, and China has maintained its leading position in trade with the region. In particular, the trade volume with Vietnam, Malaysia, Indonesia, Thailand and Singapore is significant, showing the important role of these countries in the regional economy.
In the first four months of 2024, ASEAN was my popular industries largest trading partner, with the total trade volume between China and ASEAN reaching 2.18 trillion yuan, up 8.5%, accounting for 15.8% of my total foreign trade volume. Among them, exports to ASEAN reached 1.32 trillion yuan, up 10%; imports from ASEAN reached 862.18 billion yuan, up 6.1%; and the trade surplus with ASEAN reached 456.01 billion yuan, up 18.1%.
Related Articles: Southeast Asia Market Development Guide
Latin American Market
In 2023, China’s total trade with Latin America reached RMB 3.44 trillion, a year-on-year increase of 6.8%. Since 2012, China has become the second largest trading partner and one of the main sources of investment in the region. As a major trading country, Mexico’s exports to China account for more than one-third of Latin America’s total exports.
Middle East Market
As a key node of the “Belt and Road” initiative, the Middle East has seen a sharp increase in trade relations with China in recent years. China has become the largest trading partner of many Middle Eastern countries such as Saudi Arabia and the UAE. With the further opening of the regional economy, the Middle East may become a hot spot for foreign trade development.
From the above analysis, we can see that these regions have become hot spots for global trade not only because of their stable growth potential, but also because of their unique market dynamics, which provide abundant business opportunities. Foreign trade companies should consider these data and trends to optimize their market strategies in order to achieve steady growth in the dynamic global market.
3. Local B2B platforms. You can find local B2B e-commerce platforms through Google or GPT to understand the market situation and screen suitable local customer groups.
4. Find local agents to cooperate with. Especially when we have our own factories, we can save a lot of effort to enter the market by relying on local agents with good development momentum.
Related Articles: Middle East Market Development Guide
Summarize
On the global trade stage in 2024, China’s foreign trade has shown remarkable results, especially in key industries such as ships, automobiles, integrated circuits and home appliances. The growth of each industry not only reflects the competitiveness of Chinese products, but also shows the perfect combination of technological progress and market demand. Each data highlights China.