China's logistics sector shows steady growth in Jan-Jul 2023

01 Sep '23

1 min read

Pic: Shutterstock/Roman Zaiets

Insights

China's logistics industry has demonstrated strong and consistent growth in the first seven months of 2023, as per the China Federation of Logistics and Purchasing.
The data showed a YoY growth of 4.7 per cent in social logistics.
Overall revenue for the logistics industry during this period increased by 4.6 per cent, attaining a total of 7.5 trillion yuan.

China’s logistics sector has exhibited steadfast growth in the first seven months of 2023, as per a report by the China Federation of Logistics and Purchasing. This comes despite high temperatures and flooding affecting some areas.

The federation’s data indicated that social logistics grew by 4.7 per cent year-on-year (YoY), amounting to a total value of 189.9 trillion yuan (around $26.44 trillion). Furthermore, logistics related to industrial products saw a rise of 3.8 per cent YoY.

Total revenue for the logistics industry during the period also increased by 4.6 per cent YoY, hitting the 7.5 trillion yuan mark. The federation is optimistic that with the enforcement of supportive policies, the logistics sector will continue to improve steadily for the rest of the year.

Fibre2Fashion News Desk (NB)

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