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China remains the world’s largest nation in merchandise trade

China has maintained its top rank in merchandise trade for the past five years, with its imports and exports taking a record share of the world market, the body of customs regulation of the country.

China’s foreign trade accounted for 12.8% of the world total in the first ten months of 2020, up from 11.9% in 2015, reaching an all-time high, said Ni Yuefeng, head of the General Administration of Customs.

The country’s total imports and exports increased by 17.2 percent to reach 146.370 billion yuan (about $ 22.570 billion) during the period of the 13th Five-Year Plan (2016-2020), he added. .

China emerged from global economic and trade challenges in 2020 as the only major economy in the world to report positive growth in foreign merchandise trade, an administration spokesperson said this month.

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Graduate from Punjab. Trying to understand Indian Politics. Writing about Technology, Education, Brands, Business, and much more. Author at MegaloPreneur

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