Global digital trade export volume reaches 7.23 trln US dollars in 2024: report

The export volume of global digital trade reached 7.23 trillion U.S. dollars in 2024, according to the Global Digital Trade Development Report 2025 released at the ongoing Fourth Global Digital Trade Expo (GDTE) in Hangzhou City, east China's Zhejiang Province on Friday.

The report shows that, according to the calculations by the compilation team, global digital trade achieved robust growth during 2020-2024 period, with the export volume increasing from 4.59 trillion U.S. dollars to 7.23 trillion U.S. dollars. This represents an average annual growth rate of 12.1 percent, which is higher than the average annual growth rate of 9.7 percent for global trade during the same period.

The export volume of digital delivery trade was 4.64 trillion U.S. dollars in 2024, with an average annual growth rate of 9.7 percent, while the digital ordering trade showed an even faster expansion, with an export volume of 2.62 trillion U.S. dollars and an average annual growth rate of 16.8 percent.

The five-day GDTE, China's only national-level exhibition dedicated to digital trade, kicked off on Thursday, bringing together thousands of companies around the world to Hanzhou to showcase their latest advancements in technologies and digital trade.

This year, the expo covers fields including digital entertainment, artificial intelligence (AI), Silk Road e-commerce, smart travel, digital healthcare, smart space, and intelligent logistics. For the first time, the expo has introduced over 30 activities and competitions related to connectivity, investment and financing.

Under the theme "Witness the innovative future at the Global Digital Trade Expo," the event attracted 1,800 exhibitors from 154 countries and regions. More than 20 percent of these are international exhibitors, with over 70 being Fortune Global 500 companies. This year’s total exhibition area covers more than 150,000 square meters.

Global digital trade export volume reaches 7.23 trln US dollars in 2024: report

The British government announced on Tuesday that it would impose a midnight curfew on the use of social media by teenagers aged 16 and 17.

The new restriction came following the government's announcement in June that it would ban people under the age of 16 from using a range of social media applications.

According to a UK government statement, by default, 16- and 17-year-olds are prohibited from using social media between midnight and 06:00. Furthermore, features intended to encourage users to spend more time browsing, including automatic continuous video playback and personalized content recommendations, will also be disabled by default. The government has not yet specified which social media platforms are included in this ban.

In the statement, UK Secretary of State for Science, Innovation and Technology Liz Kendall said that while teenagers gain greater independence after turning 16, they should still be protected from the negative effects of highly addictive online features that can harm their physical and mental health.

The bill is scheduled to be submitted to parliament for review before the end of 2026, and the relevant measures are expected to be implemented as early as spring 2027.

UK to impose midnight social media curfew on 16- and 17-year-olds