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2022
Exports $527MWorld Rnk 3 / 213
Flag Rnk 573 / 1216
2022
Destination $31.5M United States
2021 - 2022
FASTEST GROWING MARKET $31.5MNigeria
2022
PRODUCT COMPLEXITY IN Gaskets1.44Rnk 64 / 1025
2022
Imports $299MWorld Rnk 2 / 220
Flag Rnk 453 / 1212
2022
Origin $6.5M Germany
2021 - 2022
FASTEST GROWING ORIGIN $6.5MChinese Taipei
2022
ECONOMIC COMPLEXITY of China1.12Rnk 22 / 133

About

Exports In 2022, China exported $527M in Gaskets, making it the 3rd largest exporter of Gaskets in the world. At the same year, Gaskets was the 573rd most exported product in China. The main destination of Gaskets exports from China are: United States ($65.5M), Nigeria ($40.4M), China ($26.5M), Thailand ($26.2M), and Germany ($23.4M).

The fastest growing export markets for Gaskets of China between 2021 and 2022 were Nigeria ($31.5M), United States ($12.2M), and Mexico ($6.41M).

Imports In 2022, China imported $299M in Gaskets, becoming the 2nd largest importer of Gaskets in the world. At the same year, Gaskets was the 453rd most imported product in China. China imports Gaskets primarily from: Germany ($57.8M), United States ($55.1M), Japan ($44.7M), China ($26.5M), and South Korea ($26.3M).

The fastest growing import markets in Gaskets for China between 2021 and 2022 were Chinese Taipei ($6.5M), United States ($3.76M), and China ($3.56M).

COMPANIES In 2023, leading companies such as Victaulic (70), Schaeffler Group (11), and SIGMA Corp (8) were at the forefront of shipping Gaskets from China to the United States.

Latest Trends

October 2024

About

Overview In October 2024 China's Gaskets exports accounted up to $64.3M and imports accounted up to $67.3M, resulting in a negative trade balance of $2.98M. Between October 2023 and October 2024 the exports of China's   Gaskets have increased by $15.1M (30.8%) from $49.1M to $64.3M, while imports decreased by $-3.15M (-4.48%) from $70.4M to $67.3M.

Destinations In October 2024, Gaskets were exported mostly to United States ($11.1M), Russia ($5.92M), Germany ($3.27M), Thailand ($2.49M), and Indonesia ($2.29M), and were imported mostly from United States ($13.5M), Germany ($13.1M), Japan ($7.87M), China ($5.74M), and Italy ($3.89M).

Growth In October 2024, the increase in Gaskets's year-by-year exports was explained primarily by an increase in exports to Russia ($1.99M or 87.4%), Liberia ($538k or 80.2k%), and Singapore ($467k or 49.7%). In October 2024, the decrease in Gaskets's year-by-year imports was explained primarily by a decrease in imports from Germany ($-2.87M or -23.7%), South Korea ($-2.7M or -56.2%), and Japan ($-2.18M or -29.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$15.1M(30.8%)
IMPORT GROWTH (October 2023 - October 2024)$-3.15M(-4.48%)
MAIN EXPORTER (October 2024)Zhejiang Province$20.5M
MAIN DESTINATION (October 2024)United States$11.1M

This section shows Gaskets'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 Gaskets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$527M
IMPORTS (2022)$299M
NET TRADE (2022)$228M

In 2022, China exported $527M in Gaskets. The main destinations of China exports on Gaskets were United States ($65.5M), Nigeria ($40.4M), China ($26.5M), Thailand ($26.2M), and Germany ($23.4M).

In 2022, China imported $299M in Gaskets, mainly from Germany ($57.8M), United States ($55.1M), Japan ($44.7M), China ($26.5M), and South Korea ($26.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Gaskets EXPORT MARKETS FOR China WERE (2021 - 2022):
Nigeria$31.5M (356%)
United States$12.2M (22.9%)
Mexico$6.41M (48.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Gaskets BY China WERE (2021 - 2022):
Japan-$7.2M (-28.4%)
Hong Kong-$4.8M (-31%)
Honduras-$803k (-87.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, China's main exporting competitors in Gaskets were:
Germany $824M
United States $757M
In 2022, China's main importing competitors in Gaskets were:
United States $579M
Germany $282M

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Trade Value of Gaskets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $23.6M
TOP IMPORT POTENTIALUnited States+ $17.8M

Gaskets’s highest export potential is United States. With an export gap of $23.6M.   Gaskets’s highest import potential is United States with an import gap of $17.8M.

See methodology.

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