The turnover of wholesale merchandise markets in China experienced significant fluctuations over the period from 2013 to 2023. Notable growth was observed from 2013 to 2015, with year-on-year variations peaking in 2014 at 22.83%. However, 2016 saw a significant decline of 6.45%, followed by a minor recovery in 2017 at 1.76%. The most striking increase occurred in 2018 with a 44.24% jump, but this was followed by a notable dip in 2019 (-12.24%) and a dramatic plunge in 2020 (-35.23%). The subsequent years show a gradual recovery, with 2022 experiencing a 43.84% increase, and 2023 reaching a turnover of 610.58 hundred million yuan, which corresponds to a year-on-year rise of 12.55%. Despite these variations, the last CAGR from 2019 to 2023 was -0.8%.
For the forecast period from 2024 to 2028, the turnover is expected to consistently increase, reflecting a healthy average annual growth rate of 2.86%. By 2028, it is forecasted to reach 733.19 hundred million yuan, marking a 15.16% growth over the five-year period.
Future trends to watch for include the potential impact of digital transformation and e-commerce on the wholesale sector, the influence of government policies aimed at boosting domestic consumption, and the development of new trade routes and partnerships as part of China's Belt and Road Initiative.
