China’s foreign trade rises 15.3% to $3 trillion in January-May

China’s foreign trade expanded by 15.3% year-on-year in the first five months of the year, reaching 20.68 trillion yuan (approximately $3.03 trillion), AzerNEWS reports, citing the General Administration of Customs of China.

In May alone, the country’s total foreign trade grew by 16.9% compared to the same month last year. During the period, exports increased by 13.8%, while imports posted a stronger growth rate of 21.5%.

As the world’s second-largest economy by gross domestic product (GDP), China plays a pivotal role in global economic and trade relations. Consequently, forecasts produced by numerous international research institutions and economic think tanks are heavily influenced by expectations surrounding China’s economic performance and foreign trade outlook.

The latest figures underscore the continued importance of China’s trade sector as a key driver of both domestic growth and broader global economic activity.