China's International Trade Hits New Highs

China's International Trade Hits New Highs
Photo by zhang kaiyv / Unsplash

China’s international trade has surged last year with some record-setting numbers, despite the U.S. trade restrictions, state-backed Chinese media China Daily reported.

Despite geopolitical tensions, high tariffs, and trade restrictions, the latest figures on U.S.-China goods trade in 2022 show that the trade relationship between the two countries remains strong.

The recently released official data from the U.S. showed a record-breaking trade of $690.6 billion between the United States and China in 2022, suggesting strong growth amid export curbs.

According to Eurostat's statistics released on Feb 15, total trade volume between the EU and China in 2022 reached a new high of 856.3 billion euros ($910.6 billion), representing a 23 percent increase from 2021. China-Europe Railway Express set a new record for the number of trips it made.

Data from the Federal Statistical Office of Germany revealed that in 2022, total trade between China and Germany grew by 20.9 percent year-on-year to 297.9 billion euros. China has been Germany's top trading partner for seven consecutive years and has remained in that position.

“German leaders have said they are against decoupling in any form on many occasions,” said Mao Ning, a spokesperson for the Chinese Ministry of Foreign Affairs at a press conference.

Data from the General Administration of Customs of China shows that China's total trade with Africa, the Association of Southeast Asian Nations, and Latin America reached $282.0 billion, $975.3 billion, and $485.8 billion in 2022, respectively, China Daily reported. These figures represent year-on-year increases of 11.1 percent, 11.2 percent, and 7.7 percent, and have broken previous records.

China has become the largest source of imported cars in Mexico, surpassing the United States, Japan, and other countries, according to the National Institute of Statistics and Geography of Mexico. Chinese cars accounted for almost 25 percent of Mexico's imported cars in 2022, making automobiles a highlight in bilateral trade between the two nations.