China's social logistics sector hits over 347 trn yuan in 2022

16 May '23

2 min read

Pic: Shutterstock/Prachana Thong-on

Insights

In 2022, China's social logistics rose by 3.4 per cent YoY to 347.6 trillion yuan, with the logistics industry revenue hitting 12.7 trillion yuan, up 4.7 per cent YoY.
Data showed a robust expansion in China's e-commerce logistics sector, with the index rising to 109 points in April.
The survey predicts continued growth, driven by recovering domestic demand.

In 2022, China’s total social logistics sector rose by 3.4 per cent year-on-year (YoY), hitting a total of 347.6 trillion yuan (around $50 trillion). The logistics industry’s total revenue in 2022 amounted to 12.7 trillion yuan, marking a 4.7 per cent increase from the previous year, as per the China Federation of Logistics and Purchasing.

The growth of the East Asian country’s logistics industry has been further bolstered by a robust expansion in the e-commerce logistics sector. Data from a survey jointly conducted by the China Federation of Logistics and Purchasing and JD.com showed a 0.7-point increase from March to April in the index tracking e-commerce logistics activities, rising to 109 points. This surpasses the highest point reached in 2022, according to local media reports.

The strong performance of the e-commerce logistics sector was reflected in eight out of the nine major sub-indices, which measure activities in various fields. The indices for business volume and rural business have both shown growth for four consecutive months. The survey predicts that the rapid recovery of e-commerce logistics activities is set to continue, with the index likely to reach 110 points or higher in May.

This surge in China’s e-commerce logistics is believed to be largely driven by the recovery of domestic demand, further stimulated by holidays.

ALCHEMPro News Desk (NB)

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