Record High for China’s Trade with APEC Economies in 2024

China’s trade with other APEC economies reached a historic peak of 21.27 trillion yuan ($2.95 trillion) in the first 10 months of 2024, according to data released by the General Administration of Customs on Wednesday. This figure represents a 5.7 percent increase compared to the same period in the previous year, surpassing the overall growth of China’s trade by 0.5 percentage points.

From January to October, intermediate goods made up more than 45 percent of China’s exports to APEC economies. The data highlighted particularly strong growth in the export of electronic components, auto parts, components for automated data processing devices, and flat-panel display modules.

On the import side, intermediate goods accounted for over 80 percent of China’s imports from other APEC members. Key categories showing rapid growth included machinery, energy products, and metal ores.

APEC, or Asia-Pacific Economic Cooperation, was established in 1989 and has grown to become the most influential economic cooperation framework in the Asia-Pacific region. China became a member of APEC in 1991, marking its initial participation in a regional economic cooperation group.

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