Yiwu's foreign trade saw a remarkable upswing in the first five months of 2024, with hitting 264.5 billion yuan ($36.45 billion), a 22-percent year-on-year increase.

The city's exports soared to 234.04 billion yuan, while imports climbed to 30.46 billion yuan, contributing significantly to Zhejiang's trade figures.

Yiwu's trade with key markets like Africa, Latin America, and ASEAN countries experienced substantial gains, increasing 16.4 percent, 34.1 percent and 45.4 percent, respectively.

The city's trade with India and Saudi Arabia also saw significant growth, with respective increases of 24.3 percent and 22.7 percent.

Additionally, trade with countries involved in the Belt and Road Initiative totaled 166.52 billion yuan, up 25.4 percent and accounting for 63 percent of Yiwu's total foreign trade during this period.

The city's exports were led by labor-intensive and mechanical and electrical products. The former category, including plastic products and bags, surged by 29.7 percent, while the latter, featuring household appliances and auto parts, grew by 16.9 percent. Exports of sporting goods surged by 44.4 percent.

On the import front, consumer goods dominated, making up over 60 percent of total imports. Beauty and personal care products import saw a significant rise of 47 percent, indicating a robust demand for consumer-oriented goods.