China's logistics sector sees 3.7% YoY growth in 2024 1st 3 quarters

02 Nov '24

1 min read

China's logistics sector sees 3.7% YoY growth in 2024 1st 3 quarters

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Insights

China's logistics sector witnessed steady growth in the first three quarters this year, with the total revenue of the logistics industry standing at 10 trillion yuan ($1.4 trillion)—a rise of 3.7 per cent YoY, according to the China Federation of Logistics and Purchasing.
Logistics for industrial products increased by 5.6 per cent YoY, while that for renewable resources climbed by 10.1 per cent.

China's logistics sector witnessed steady growth in the first three quarters this year, with the total revenue of the logistics industry standing at 10 trillion yuan ($1.4 trillion)—an increase of 3.7 per cent year on year (YoY), according to the China Federation of Logistics and Purchasing.

Social logistics rose by 5.6 per cent YoY to 258.2 trillion yuan (~$36.22 trillion) during the period.

Logistics for industrial products increased by 5.6 per cent YoY, while that for renewable resources climbed by 10.1 per cent, said the federation.

During the period, social logistics costs rose by 2.3 per cent YoY to 13.4 trillion yuan.

The ratio of social logistics costs to gross domestic product (GDP) was 14.1 per cent during the period—down by 0.2 percentage point YoY.

Fibre2Fashion News Desk (DS)

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