China's Overseas Warehousing Numbers Surge to 2,200 in 2023

Recent Changes in Overseas Warehouse Numbers

As a key node in cross-border e-commerce logistics, overseas warehouses have played an increasingly important role in Chinese enterprises' overseas expansion in recent years. According to industry estimates, the number of China's overseas warehouses grew from approximately 800 in 2019 to about 2,200 in 2023, an increase of over 175% in five years, with a compound annual growth rate of over 22%.

• 2019: ~800 units
• 2020: ~1,100 units (37.5% YoY growth)
• 2021: ~1,500 units (36.4% YoY growth)
• 2022: ~1,800 units (20.0% YoY growth)
• 2023: ~2,200 units (22.2% YoY growth)

Growth Drivers

The rapid increase in overseas warehouse numbers is mainly driven by the following factors:

• Expansion of cross-border e-commerce transaction scale: In 2023, China's cross-border e-commerce import and export volume reached 2.38 trillion yuan, up 15.6% year-on-year, boosting demand for overseas warehouses.
• Policy support: The Chinese government encourages enterprises to build overseas warehouses, offering tax incentives and subsidies to reduce initial investment costs.
• Logistics efficiency improvement: Overseas warehouses shorten delivery time to 2-5 days, enhancing consumer experience and becoming a standard for top e-commerce platforms.
• Localization operational needs: Enterprises achieve local delivery, returns, and after-sales service through overseas warehouses, strengthening competitiveness in overseas markets.

Outlook

It is estimated that the number of overseas warehouses will maintain a growth rate of around 20% in 2024-2025, but regional distribution will shift from the US and Europe to emerging markets such as Southeast Asia and Latin America. At the same time, overseas warehouse operating models will also shift from self-built to light-asset models such as leasing and cooperation.

Data source: Ministry of Commerce public information and industry estimates.