China2021 Economic Complexity Trade : 1.07, Rank 25 of 131
2021 Economic Complexity Technology : 0.81, Rank 29 of 96
2021 Economic Complexity Research : -0.057, Rank 64 of 140
2021 Product Exports | Imports: $3.34T | $1.97T, 1 of 226 | 2 of 226
2021 Per Capita Product Exports | Imports: $2.36k | $1.39k, 92 of 219 | 140 of 219
Overview In 2021, China was the number 2 economy in the world in terms of GDP (current US$), the number 1 in total exports, the number 2 in total imports, the number 58 economy in terms of GDP per capita (current US$) and the number 25 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of China are Broadcasting Equipment ($231B), Computers ($192B), Integrated Circuits ($158B), Office Machine Parts ($101B), and Telephones ($53.9B), exporting mostly to United States ($530B), Hong Kong ($323B), Japan ($168B), South Korea ($140B), and Germany ($134B).
In 2021, China was the world's biggest exporter of Broadcasting Equipment ($231B), Computers ($192B), Office Machine Parts ($101B), Telephones ($53.9B), and Semiconductor Devices ($49.2B)
Imports The top imports of China are Crude Petroleum ($208B), Integrated Circuits ($171B), Iron Ore ($146B), Petroleum Gas ($56.6B), and Copper Ore ($52.4B), importing mostly from South Korea ($158B), Japan ($153B), United States ($151B), Australia ($138B), and Chinese Taipei ($126B).
In 2021, China was the world's biggest importer of Crude Petroleum ($208B), Iron Ore ($146B), Petroleum Gas ($56.6B), Copper Ore ($52.4B), and Soybeans ($44.2B)
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.
June, 2023
Overview In June 2023 China exported $285B and imported $215B, resulting in a positive trade balance of $70.6B. Between June 2022 and June 2023 the exports of China have decreased by $-45.9B (-13.9%) from $331B to $285B, while imports decreased by $-18.6B (-7.98%) from $233B to $215B.
Trade In June 2023, the top exports of China were Telephones ($14.5B), Computers ($13.2B), Integrated Circuits ($11.3B), Cars ($5.68B), and Semiconductor Devices ($5.63B). In June 2023 the top imports of China were Integrated Circuits ($31.1B), Crude Petroleum ($28.2B), Iron Ore ($10.2B), Petroleum Gas ($6.77B), and Gold ($6.12B).
Origins In June 2023 the exports of China were mainly from Guangdong Province ($63.1B), Zhejiang Province ($45B), Jiangsu Province ($39.4B), Shandong Province ($27.9B), and Shanghai Province ($20.6B), while imports destinations were mainly Guangdong Province ($35B), Beijing ($33.7B), Shanghai Province ($29.6B), Jiangsu Province ($23.8B), and Shandong Province ($17.3B).
Destinations In June 2023, China exported mostly to United States ($42.7B), Hong Kong ($22.1B), South Korea ($12.6B), Japan ($12.5B), and Vietnam ($11B), and imported mostly from Taiwan ($17.1B), United States ($14B), South Korea ($14B), Japan ($13.6B), and Australia ($13.2B).
Growth In June 2023, the decrease in China's year-by-year exports was explained primarily by an decrease in exports to United States ($-13.3B or -23.7%), Hong Kong ($-5.73B or -20.6%), and South Korea ($-3.11B or -19.8%), and product exports decrease in Computers ($-4.44B or -25.2%), Telephones ($-3.69B or -20.2%), and Integrated Circuits ($-2.72B or -19.4%). In June 2023, the decrease in China's year-by-year imports was explained primarily by an decrease in imports from Taiwan ($-3.15B or -15.6%), South Korea ($-2.54B or -15.4%), and Japan ($-2.28B or -14.3%), and product imports decrease in Integrated Circuits ($-4.89B or -13.6%), Iron Ore ($-1.82B or -15.1%), and Carbonates ($-1.5B or -81.4%).
EXPORT GROWTH (June 2022 - June 2023): $-45.9B, (-13.9%)
IMPORT GROWTH (June 2022 - June 2023): $-18.6B, (-7.98%)
MAIN EXPORTER (June 2023): Guangdong Province, $63.1B
MAIN DESTINATION (June 2023): United States, $42.7B
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.
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Top Export (2021): Broadcasting Equipment, $231B
Top Destination (2021): United States, $530B
In 2021, China exported a total of $3.34T, making it the number 1 exporter in the world. During the last five reported years the exports of China have changed by $1.12T from $2.22T in 2016 to $3.34T in 2021.
The most recent exports are led by Broadcasting Equipment ($231B), Computers ($192B), Integrated Circuits ($158B), Office Machine Parts ($101B), and Telephones ($53.9B). The most common destination for the exports of China are United States ($530B), Hong Kong ($323B), Japan ($168B), South Korea ($140B), and Germany ($134B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
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 (0.36), Beijing (0.36), and Shaanxi Province (0.36).
The principal exporters of China were Guangdong Province ($798B), Jiangsu Province ($524B), and Zhejiang Province ($516B).
The same year, the principal importers of China were Beijing ($458B), Guangdong Province ($447B), and Shanghai Province ($371B).
China has a high level of specialization in Artificial Vegetation (5.68), Party Decorations (5.45), Vacuum Flask (5.07), Umbrellas (5.01), and Combs (4.99). 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 Textile machinery; for extruding, drawing, texturing or cutting man-made textile materials (1.97), Chemical elements doped for use in electronics, in the form of discs,... (1.94), Electric (electrically heated gas) soldering, brazing, welding machines and apparatus, capable or... (1.94), Esters of other inorganic acids of non-metals (other than of hydrogen halides)... (1.92), and Machine-tools; for planing, shaping, slotting, broaching, gear cutting and grinding, finishing, sawing,... (1.9). 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, were Jute Woven Fabric (0.57), Jute Yarn (0.56), Patent Leather (0.55), Copper Foil (0.54), and Prepared Pigments (0.53). 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 53rd to the 25th 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.
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