Yiwu, the world‘s top small commodity market, located in eastern China’s Zhejiang province, posted increases in both imports and exports in the first quarter of this year.
The total value of both the city’s operations stood at 118.44 billion yuan (17.1 billion U.S. dollars) in the first three months of 2023, an annual growth of 11.4 percent, according to Yiwu customs data. .
Imports expanded 15.6 percent to 11.35 billion yuan, while exports rose 11 percent to 107.09 billion yuan.
Additionally, local businessmen affirmed that the return of enthusiastic foreign buyers has contributed to the rise of the latter. Also, the average number of daily visits by foreign merchants rose 30.3 percent year-on-year.
Cross-border e-commerce, whose value soared 111 percent on customs-controlled platforms during the period, has also become a key channel for local merchants to win business abroad.