Global Digital Trade Volume Surges to $7.13 Trillion in 2023, According to the Global Digital Trade Development Report 2024
HANGZHOU, China, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The Global Digital Trade Development Report 2024, jointly released by the Global Digital Trade Expo Organizing Committee and the International Trade Center (ITC), reveals a remarkable growth in global digital trade. In 2023, global digital trade volume surged to $7.13 trillion, up from $6.02 trillion in 2021, reflecting a robust 8.8% annual growth rate. This growth highlights the expanding role of digital trade in the global economy.
As the world increasingly embraces digital solutions, China continues to lead in innovation and strengthen its global trade partnerships. The report ranks the EU, US, and China as the top three leaders in global digital trade. Additionally, the Report on China’s Development of Digital Trade 2024 indicates that, in the first half of 2024, China’s digitally deliverable service trade reached 1.42 trillion yuan, marking a 3.7% increase year-on-year. Meanwhile, cross-border e-commerce imports and exports totaled 1.22 trillion yuan, a 10.5% growth compared to the previous year.
The 3rd Global Digital Trade Expo (GDTE), held in September 2024 in Hangzhou, China, served as a vital platform for further stimulating the increase in global digital trade. As China’s only national-level international exhibition dedicated to digital trade, the event saw remarkable success, with the following highlights:
- The exhibition attracted 1,546 companies from 123 countries and regions.
- More than 200,000 visitors attended the exhibition.
- 113 projects with a total value of 165.08 billion yuan were successfully signed.
- A total of 2,995 exhibitors exhibited more than 2,300 exhibits through the “Digital Trade Online” applet.
- The applet recommended exhibitors to the audience 1.56 million times.
- The applet cooperated with platforms such as Amazon Global Store and Alibaba International Station to launch the “cross-border e-commerce service.”
As an organic combination of digital technology and international trade, digital trade represents a new form of development in international trade. The GDTE will continue to promote global digital trade, explore global cooperation, share achievements, and establish a vibrant global digital trade ecosystem.
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