(MENAFN) Official figures released by the National Foreign Exchange Authority of China shed light on the country's international trade performance in February 2024, showcasing resilience amidst global economic dynamics. The data, as reported by the New China News Agency (Xinhua), highlights the total value of China's trade in goods and services, which amounted to 3.32 trillion yuan for the specified period.
In terms of dollar value, China's international trade in goods and services registered exports and imports worth 232.5 billion US dollars and 222.3 billion US dollars, respectively, resulting in a surplus of 10.2 billion US dollars. Notably, the country's goods trade saw exports valued at 1.46 trillion yuan, with imports totaling 1.26 trillion yuan, leading to a surplus of 197.7 billion yuan.
Delving into the realm of services trade, the data reveals a nuanced picture, with exports reaching a value of 194.7 billion yuan, while imports stood at 320 billion yuan, resulting in a deficit of 125.4 billion yuan. Within the services sector, tourism emerged as a significant contributor, accounting for a substantial portion of services trade with a value amounting to 142.5 billion yuan.
Despite prevailing challenges and uncertainties in the global economic landscape, China's foreign trade demonstrates resilience and adaptability, with robust performance observed across both goods and services sectors. The surplus in goods trade underscores the country's continued competitiveness and capacity to meet international demand, while the deficit in services trade highlights areas for potential growth and optimization. As China navigates evolving dynamics in the global market, stakeholders will closely monitor these trends, seeking opportunities to capitalize on strengths and address areas of improvement in the pursuit of sustainable economic development.
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