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China’s Trade with Nordic Countries Surges by 5.7% Year-on-Year

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China and Nordic countries have broadened their economic cooperation in recent years, China’s Ministry of Commerce says.

During the first eight months of this year, trade volume between China and five Nordic countries – Finland, Norway, Iceland, Sweden, and Denmark – reached 35.44 billion U.S. dollars, up 5.7% year-on-year, according to Wang Yupeng, a commerce ministry official.

Wang says that high value-added products such as computers, communication equipment, pharmaceuticals, ships, autos, and their parts form majority of the bilateral trade.

Annual trade between China and the five Nordic countries is expected to exceed 50 billion U.S. dollars this year, Wang estimates.

The Nordic countries are important sources of foreign investment and destinations for China.

The cumulative direct investment from the five Nordic countries in China has exceeded 15 billion U.S. dollars this year.

Until the end of August, China’s direct investment in the Nordic countries was about 1 billion U.S. dollars, over one-fifth of China’s total investment in Europe.

The 2024 China-Nordic Economic and Trade Cooperation Forum will be held this week in Wuhan, central China’s Hubei Province.

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