Looms in China 2021 Exports | Imports : $498M | $333M, World Rnk 2 / 97 Rnk 568 / 1215 | World Rnk 3 / 158 Rnk 433 / 1214
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $122M | $49.2M, India | Japan
2021 ECONOMIC COMPLEXITY of China: 1.07, Rnk 25 / 131
2021 PRODUCT COMPLEXITY IN Looms: 0.96, Rnk 184 / 1029
Exports In 2021, China exported $498M in Looms, making it the 2nd largest exporter of Looms in the world. At the same year, Looms was the 568th most exported product in China. The main destination of Looms exports from China are: India ($234M), Pakistan ($34.2M), Vietnam ($32.2M), Malaysia ($25M), and Turkey ($24.6M).
The fastest growing export markets for Looms of China between 2020 and 2021 were India ($122M), Pakistan ($18.8M), and Turkey ($15.8M).
Imports In 2021, China imported $333M in Looms, becoming the 3rd largest importer of Looms in the world. At the same year, Looms was the 433rd most imported product in China. China imports Looms primarily from: Japan ($173M), Belgium ($98M), Germany ($32.9M), Italy ($13.4M), and Switzerland ($6.52M).
The fastest growing import markets in Looms for China between 2020 and 2021 were Japan ($49.2M), Belgium ($41M), and Germany ($8.24M).
Tariffs In 2018, the average tariff for China in Looms was 7.07%. The countries with the highest import tariffs for Looms were Bangladesh (Most Favoured Nation duty rate treatment, 10%), India (Most Favoured Nation duty rate treatment, 10%), Sri Lanka (Most Favoured Nation duty rate treatment, 10%), Taiwan (Most Favoured Nation duty rate treatment, 9%), and Switzerland (Most Favoured Nation duty rate treatment, 9%).
March 2023
Overview In March 2023 China's Looms exports accounted up to $84.4M and imports accounted up to $30.8M, resulting in a positive trade balance of $53.6M. Between March 2022 and March 2023 the exports of China's Looms have increased by $44M (109%) from $40.3M to $84.4M, while imports decreased by $-13.1M (-29.9%) from $43.8M to $30.8M.
Destinations In March 2023, Looms were exported mostly to India ($65.3M), Vietnam ($3.61M), Malaysia ($2.33M), Indonesia ($2.01M), and United States ($1.53M), and were imported mostly from Japan ($14.7M), Belgium ($13.5M), Germany ($2.04M), Italy ($361k), and United States ($104k).
Growth In March 2023, the increase in Looms's year-by-year exports was explained primarily by an increase in exports to India ($11M or 59.5%), Uzbekistan ($2.65M or 520%), and Indonesia ($937k or 63.5%). In March 2023, the decrease in Looms's year-by-year imports was explained primarily by a decrease in imports from Belgium ($-7.79M or -78.4%).
EXPORT GROWTH (March 2022 - March 2023): $44M, (109%)
IMPORT GROWTH (March 2022 - March 2023): $-13.1M, (-29.9%)
MAIN EXPORTER (March 2023): Shandong Province, $32.5M
MAIN DESTINATION (March 2023): India, $65.3M
This section shows Looms'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 Looms over time.
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EXPORTS (2021): $498M
IMPORTS (2021): $333M
NET TRADE (2021): $165M
In 2021, China exported $498M in Looms. The main destinations of China exports on Looms were India ($234M), Pakistan ($34.2M), Vietnam ($32.2M), Malaysia ($25M), and Turkey ($24.6M).
In 2021, China imported $333M in Looms, mainly from Japan ($173M), Belgium ($98M), Germany ($32.9M), Italy ($13.4M), and Switzerland ($6.52M).
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Looms BY China WERE (2020 - 2021):
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