An aerial view of Zhoushan Port on Dec 29, 2024. [Photo/IC]

Zhejiang province's foreign trade reached a record 5.26 trillion yuan ($718 billion) in 2024, a 7.4 percent increase year-over-year, according to Hangzhou Customs on Jan 16.

Exports surged 9.5 percent to 3.9 trillion yuan, while imports grew 1.9 percent to 1.36 trillion yuan. The province's share of China's total exports and imports rose by 0.3 percentage points.

The number of active foreign trade businesses in Zhejiang grew by 8,450 from 2023 to 119,000.

Trade with the European Union and the United States rebounded sharply, growing 7.4 percent and 13.9 percent, respectively, after declines in 2023.

Emerging markets showed strong momentum, with trade rising 3.2 percent with the Middle East, 11.8 percent with Latin America, and 7.1 percent with Africa — outpacing national averages.

Agricultural imports totaled 113.57 billion yuan, up 2.4 percent, driven by a 48.6 percent increase from the Middle East and 15.5 percent growth from Africa.

Trade through bonded zones surged 24.7 percent, significantly outpacing the national growth rate by 19.9 percentage points.