China2020 Economic Complexity : 0.96, Rank 28 of 127
2020 Product Exports | Imports: $2.65T | $1.55T, 1 of 226 | 2 of 226
2020 Per Capita Product Exports | Imports: $1.88k | $1.1k, 89 of 219 | 138 of 219
2020 Service Exports | Imports : $208B | $378B, 6 of 65 | 2 of 65
Overview In 2020, China was the number 2 economy in the world in terms of GDP (current US$), the number 1 in total exports, the number 2 in total imports, the number 77 economy in terms of GDP per capita (current US$) and the number 28 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of China are Broadcasting Equipment ($223B), Computers ($156B), Integrated Circuits ($120B), Office Machine Parts ($86.8B), and Other Cloth Articles ($60.7B), exporting mostly to United States ($438B), Hong Kong ($262B), Japan ($151B), Germany ($112B), and South Korea ($110B).
In 2020, China was the world's biggest exporter of Broadcasting Equipment ($223B), Computers ($156B), Office Machine Parts ($86.8B), Other Cloth Articles ($60.7B), and Telephones ($51B)
Imports The top imports of China are Crude Petroleum ($150B), Integrated Circuits ($144B), Iron Ore ($99B), Cars ($42B), and Soybeans ($37.4B), importing mostly from Japan ($133B), South Korea ($131B), United States ($122B), Germany ($106B), and Chinese Taipei ($104B).
In 2020, China was the world's biggest importer of Crude Petroleum ($150B), Iron Ore ($99B), Soybeans ($37.4B), Petroleum Gas ($36.6B), and Copper Ore ($33.9B)
Location China borders North Korea, Russia, Mongolia, Kazakhstan, Tajikistan, Kyrgyzstan, Afghanistan, Pakistan, India, Nepal, Bhutan, Laos, Vietnam, Hong Kong, and Macau by land and Indonesia, Brunei, Japan, South Korea, Malaysia, and Philippines by sea.
December, 2022
Overview In December 2022 China exported $306B and imported $228B, resulting in a positive trade balance of $78B. Between December 2021 and December 2022 the exports of China have decreased by $-33.6B (-9.89%) from $340B to $306B, while imports decreased by $-18.4B (-7.46%) from $246B to $228B.
Trade In December 2022, the top exports of China were Telephones ($21.4B), Computers ($14.2B), Integrated Circuits ($13.7B), Refined Petroleum ($6.64B), and Electric Batteries ($6.42B). In December 2022 the top imports of China were Integrated Circuits ($34.6B), Crude Petroleum ($30.7B), Petroleum Gas ($9.27B), Gold ($9.12B), and Iron Ore ($8.37B).
Origins In December 2022 the exports of China were mainly from Guangdong Province ($66.2B), Jiangsu Province ($41.9B), Zhejiang Province ($38.1B), Shandong Province ($31.5B), and Shanghai Province ($21B), while imports destinations were mainly Guangdong Province ($39.4B), Beijing ($39B), Shanghai Province ($30.4B), Jiangsu Province ($21.9B), and Shandong Province ($16.7B).
Destinations In December 2022, China exported mostly to United States ($45.4B), Hong Kong ($29.6B), Japan ($14.1B), South Korea ($13.5B), and Vietnam ($13.2B), and imported mostly from Taiwan ($19.2B), United States ($15.9B), Japan ($14.7B), South Korea ($14.4B), and China ($11.4B).
Growth In December 2022, the decrease in China's year-by-year exports was explained primarily by an decrease in exports to Burma ($-251M or -14.7%), Luxembourg ($-93.7M or -66.8%), and Algeria ($-91.7M or -15.1%), and product exports decrease in LCDs ($-2.13B or -93.3%), Commodities not elsewhere specified ($-782M or -20.2%), and Other Cloth Articles ($-448M or -25.3%). In December 2022, the decrease in China's year-by-year imports was explained primarily by an decrease in imports from Vietnam ($-1.08B or -13.8%), India ($-479M or -21.6%), and Germany ($-432M or -4.25%), and product imports decrease in Iron Ore ($-2.4B or -19.1%), Telephones ($-2.37B or -48.8%), and LCDs ($-2.14B or -89.4%).
EXPORT GROWTH (December 2021 - December 2022): $-33.6B, (-9.89%)
IMPORT GROWTH (December 2021 - December 2022): $-18.4B, (-7.46%)
MAIN EXPORTER (December 2022): Guangdong Province, $66.2B
MAIN DESTINATION (December 2022): United States, $45.4B
This section shows exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of China over time.
For full datasets download visit Bulk Download page.
Top Export (2020): Broadcasting Equipment, $223B
Top Destination (2020): United States, $133B
In 2020, China exported a total of $2.65T, making it the number 1 exporter in the world. During the last five reported years the exports of China have changed by $297B from $2.35T in 2015 to $2.65T in 2020.
The most recent exports are led by Broadcasting Equipment ($223B), Computers ($156B), Integrated Circuits ($120B), Office Machine Parts ($86.8B), and Other Cloth Articles ($60.7B). The most common destination for the exports of China are United States ($438B), Hong Kong ($262B), Japan ($151B), Germany ($112B), and South Korea ($110B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
China Exports Services (2020): $208B
China Imports Services (2020): $378B
In 2020, China exported $208B worth of services. The top services exported by China in 2020 were Other business services ($69.8B), Transportation ($56.7B), Computer and information services ($39B), Construction services ($12.6B), and Travel ($9.95B).
The top services imported by China in 2020 were Travel ($131B), Transportation ($94.7B), Other business services ($50.3B), Royalties and license fees ($37.9B), and Computer and information services ($32.6B).
This section shows exports, imports and economic complexity data at the subnational level for China. Click any of the Subnational Level in the geomap to visit the specific subnational profile.
The top territories of China according to its Economic Complexity Index are Shanghai Province (0.38), Shaanxi Province (0.35), and Chongqing (0.33).
In 2020, the principal exporters of China were Guangdong Province ($510B), Jiangsu Province ($342B), and Zhejiang Province ($325B).
The same year, the principal importers of China were Guangdong Province ($388B), Shanghai Province ($291B), and Beijing ($265B).
China has a high level of specialization in Artificial Vegetation (5.7), Party Decorations (5.29), Umbrellas (5.05), Vacuum Flask (4.98), and Other Cloth Articles (4.94). Specialization is measured using RCA, an index that takes the ratio between China observed and expected exports in each product.
The highest complexity exports of China according to the product complexity index (PCI) are Artificial Textile Machinery (2.02), Disc Chemicals for Electronics (2.01), Other Esters (1.96), Drafting Tools (1.84), and Electric Soldering Equipment (1.78). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for China according to the relatedness index, are Metal-Clad Products (0.54), Jute Woven Fabric (0.53), Patent Leather (0.52), Rubber Apparel (0.51), and Human Hair (0.5). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that China is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years China's economy has become relatively more complex, moving from the 59th to the 28th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Have questions, comments, or concerns?
Send us an e-mail: [email protected]
v5.1.14 lamb