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2023
Exports $1.28BWorld Rnk 1 / 160
Flag Rnk 369 / 1215
2023
Destination $45M Indonesia
2022 - 2023
FASTEST GROWING MARKET $45MRussia
2023
PRODUCT COMPLEXITY IN Electric Furnaces1.62Rnk 31 / 1025
2023
Imports $650MWorld Rnk 2 / 206
Flag Rnk 293 / 1214
2023
Origin $18.4M Germany
2022 - 2023
FASTEST GROWING ORIGIN $18.4MFrance
2023
ECONOMIC COMPLEXITY of China1.16Rnk 21 / 132

About

Exports In 2023, China exported $1.28B in Electric Furnaces, making it the 1st largest exporter of Electric Furnaces in the world. At the same year, Electric Furnaces was the 369th most exported product in China. The main destination of Electric Furnaces exports from China are: Indonesia ($269M), Vietnam ($86.4M), Japan ($76.8M), Russia ($73.9M), and Thailand ($71.1M).

The fastest growing export markets for Electric Furnaces of China between 2022 and 2023 were Russia ($45M), Japan ($39.9M), and Thailand ($34.7M).

Imports In 2023, China imported $650M in Electric Furnaces, becoming the 2nd largest importer of Electric Furnaces in the world. At the same year, Electric Furnaces was the 293rd most imported product in China. China imports Electric Furnaces primarily from: Germany ($131M), Chinese Taipei ($73M), South Korea ($70.7M), United States ($64.3M), and Japan ($59.5M).

The fastest growing import markets in Electric Furnaces for China between 2022 and 2023 were France ($18.4M), United States ($12.8M), and Austria ($12.7M).

COMPANIES In 2024, leading companies such as LG Electronics (1.69k), Itourscm (366), and CrimsonLogic (114) were at the forefront of shipping Electric Furnaces from China to the United States.

Latest Trends

December 2024

About

Overview In December 2024 China's Electric Furnaces exports accounted up to $149M and imports accounted up to $76.9M, resulting in a positive trade balance of $72.5M. Between December 2023 and December 2024 the exports of China's   Electric Furnaces have decreased by $-3.16M (-2.07%) from $152M to $149M, while imports decreased by $-8.15M (-9.58%) from $85M to $76.9M.

Destinations In December 2024, Electric Furnaces were exported mostly to Indonesia ($24.4M), United States ($14.8M), Vietnam ($13.3M), Thailand ($9.79M), and India ($8.93M), and were imported mostly from Germany ($22.9M), Chinese Taipei ($10.6M), Japan ($8.48M), Belgium ($5.58M), and South Korea ($5.34M).

Growth In December 2024, the decrease in Electric Furnaces's year-by-year exports was explained primarily by a decrease in exports to Indonesia ($-12.7M or -31%), Bolivia ($-3.71M or -99.3%), and Turkey ($-2.09M or -44.7%). In December 2024, the decrease in Electric Furnaces's year-by-year imports was explained primarily by a decrease in imports from France ($-1.79M or -40.4%), South Korea ($-1.19M or -34%), and Italy ($-649k or -31%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-3.16M(-2.07%)
IMPORT GROWTH (December 2023 - December 2024)$-8.15M(-9.58%)
MAIN EXPORTER (December 2024)Guangdong Province$35.8M
MAIN DESTINATION (December 2024)Indonesia$24.4M

This section shows Electric Furnaces's exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Electric Furnaces over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.28B
IMPORTS (2023)$650M
NET TRADE (2023)$627M

In 2023, China exported $1.28B in Electric Furnaces. The main destinations of China exports on Electric Furnaces were Indonesia ($269M), Vietnam ($86.4M), Japan ($76.8M), Russia ($73.9M), and Thailand ($71.1M).

In 2023, China imported $650M in Electric Furnaces, mainly from Germany ($131M), Chinese Taipei ($73M), South Korea ($70.7M), United States ($64.3M), and Japan ($59.5M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electric Furnaces EXPORT MARKETS FOR China WERE (2022 - 2023):
Russia$45M (155%)
Japan$39.9M (108%)
Thailand$34.7M (95.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Furnaces BY China WERE (2022 - 2023):
Vietnam-$76.6M (-47%)
Chinese Taipei-$20.1M (-38.8%)
Germany-$6.21M (-18%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, China's main exporting competitors in Electric Furnaces were:
Germany $988M
Italy $638M
In 2023, China's main importing competitors in Electric Furnaces were:
United States $739M
Indonesia $304M

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Trade Value of Electric Furnaces by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $30.5M
TOP IMPORT POTENTIALItaly+ $15.7M

Electric Furnaces’s highest export potential is India. With an export gap of $30.5M.   Electric Furnaces’s highest import potential is Italy with an import gap of $15.7M.

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