China’s foreign trade rose 3.4 percent year-on-year in 2014. It was the third consecutive year the country missed its official target.

The Chinese General Administration of Customs announced on Tuesday that the nation’s exports last year increased by 6.1 percent year-on-year to US$2.34 trillion, while imports grew more slowly – at 0.4 percent – to US$1.96 trillion.

This translated into a record trade surplus of US$382.46 billion, up 47.2 percent from 2013, the administration said.

In 2014, the nation’s total imports and exports increased by 3.4 percent to US$4.30 trillion, missing the growth target of 7.5 percent.

“A slowing recovery of the global economy, weak domestic investment and demand, and falling commodity prices are the major reasons behind the weak foreign trade growth in 2014,” explained Zheng Yuesheng, a spokesperson for the administration.

The Chinese Central Government expects foreign trade to perform better in 2015, helped by a recovering global economy and more favourable policies.

State-run news agency Xinhua previously reported that the official foreign trade growth target for this year is set at 6 percent.