Trade turnover between China, US increased by 3.7% in 2023

Trade turnover between China and the US increased by 3.7% in 2024, reaching $688.28 billion, China's General Customs Administration said, Report informs.

The US remains China's largest trading partner. Exports from China to the US increased by 4.9% last year, reaching $524.66 billion. Meanwhile, supplies from the US to China decreased by 0.1%, reaching $163.62 billion. There is still a significant imbalance in trade between the two countries.

In recent years, China-US relations have become more tense, which has affected trade between the two countries. In 2022, their trade turnover increased by only 0.6%, reaching $759.4 billion. In 2023, it decreased by 11.6%, amounting to $664.45 billion.