The total imports and exports of Yiwu in Zhejiang province reached 566.05 billion yuan ($73.17 billion) in 2023, marking an 18.2 percent year-on-year increase, as reported by Yiwu Customs.

Specifically, exports amounted to 500.57 billion yuan, reflecting a 16 percent increase, while imports stood at 65.48 billion yuan, showing a substantial increase of 38.7 percent.

Yiwu's trade with countries participating in the Belt and Road Initiative totaled 349.71 billion yuan, representing a 19.5 percent increase. Additionally, its foreign trade with African and Latin American countries was valued at 104.90 billion yuan and 89.76 billion yuan, respectively, with growth rates of 24.9 percent and 25.4 percent.

Notably, trade with India and Saudi Arabia also experienced significant growth, totaling 30.42 billion yuan and 14.13 billion yuan, with growth rates of 24.7 percent and 38.4 percent, respectively.

Yiwu's foreign trade orders showcased a new highlight through the small-scale, multi-variety mixed-container export of small commodities. In 2023, the city exported 388.37 billion yuan through market procurement trade, representing a 19 percent increase.

Moreover, Yiwu's cross-border e-commerce achieved a transaction volume of 121.16 billion yuan, marking an 11.8 percent year-on-year increase.

Leveraging its advantages such as fast delivery and low transportation costs, Yiwu has established 210 overseas warehouses in 50 countries, underscoring their importance in the city's international market expansion.