Zhejiang Province

Province in China

Exports (2019): $314B, Rnk 3/31

Top Destination (2019): $51.7B, United States

Top Export (2019): $4.54B, Tricycles, scooters, pedal cars and similar...

Imports (2019): $107B, Rnk 6/31

Top Origin (2019): $10.5B, Japan

Top Import (2019): $8.31B, Iron ore, concentrate, not iron pyrites,unagglomerate

Economic Complexity (2019): 0.2, Rnk 8 / 31

Exports: In 2019, China's Zhejiang Province exported $314B, making it the 3rd largest exporter out of the 31 exporters in China. In 2019 the top exports of Zhejiang Province were Tricycles, scooters, pedal cars and similar... ($4.54B), Woven fabric >85% textured polyester, dyed,... ($4.5B), Taps, cocks, valves and similar appliances,... ($4.46B), Footwear, outer soles/uppers of rubber or... ($4.22B), and Photosensitive/photovoltaic/LED semiconductor devices ($4.07B).

Imports: In 2019, China's Zhejiang Province imported $107B, making it the 6th largest importer out of the 31 importers in China. In 2019 top imports of Zhejiang Province were Iron ore, concentrate, not iron pyrites,unagglomerate ($8.31B), Light petroleum distillates nes ($4.93B), P-xylene ($4.38B), Copper/copper alloy waste or scrap ($3.58B), and Petroleum oils, oils from bituminous minerals,... ($3.18B).

Economic Complexity: In 2019, the highest complexity exports of Zhejiang Province according to the product complexity index (PCI) are Electric Soldering Equipment (1.79), Metalworking Machines (1.77), Phosphoric Esters and Salts (1.74), Hot-Rolled Stainless Steel Bars (1.73), and Iron Fasteners (1.72). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Value
Depth

Top Destination (2019): United States, $51.7B

Top Product (2019): Tricycles, scooters, pedal cars and similar..., $4.54B

In 2019 the top export destinations of Zhejiang Province were United States ($51.7B), Germany ($13.1B), India ($12.4B), Japan ($11.6B), and United Kingdom ($10.5B).

In 2019 the top exports of Zhejiang Province were Tricycles, scooters, pedal cars and similar... ($4.54B), Woven fabric >85% textured polyester, dyed,... ($4.5B), Taps, cocks, valves and similar appliances,... ($4.46B), Footwear, outer soles/uppers of rubber or... ($4.22B), and Photosensitive/photovoltaic/LED semiconductor devices ($4.07B).

Export Dynamics

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Fastest Growing Exports Destination (April 2019 - April 2020)

Rapidly Declining Export Origins (April 2019 - April 2020)

Value
Depth

Top Origin (2019): Japan, $10.5B

Top Import (2019): Iron ore, concentrate, not iron pyrites,unagglomerate, $8.31B

In 2019 the top import origins of Zhejiang Province were Japan ($10.5B), South Korea ($9.68B), Australia ($8.78B), Taiwan ($7.76B), and Brazil ($4.76B).

In 2019 the top imports of Zhejiang Province were Iron ore, concentrate, not iron pyrites,unagglomerate ($8.31B), Light petroleum distillates nes ($4.93B), P-xylene ($4.38B), Copper/copper alloy waste or scrap ($3.58B), and Petroleum oils, oils from bituminous minerals,... ($3.18B).

Import Dynamics

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Fastest Growing Import Origins (April 2019 - April 2020)

Rapidly Declining Import Origins (April 2019 - April 2020)

Comparison in Time

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Flow
Value

This section shows differences between total trade from Zhejiang Province throughout time.

Comparison Map

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The territories of China with the highest exports in 2019 were Guangdong Province ($444B), Jiangsu Province ($347B), Zhejiang Province ($314B), Shanghai Province ($176B), and Shandong Province ($153B)

The territories of China with the highest imports in 2019 were Guangdong Province ($373B), Beijing ($293B), Shanghai Province ($288B), Jiangsu Province ($223B), and Shandong Province ($133B)

This section shows forecasts for total exports and imports from Zhejiang Province. The forecast is based in a Long Short-Term Memory Model constructed using monthly trade data.

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Economic Complexity

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Economic Complexity of China

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Zhejiang Province ranks 8th out of the 31 territories in China according to ECI.

Estimated using exports data.

Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were Zhejiang Province already has a comparative advantage, are led by Cinnamon (0.53), Telephones (0.51), LCDs (0.51), Printed Circuit Boards (0.48), and Light Rubberized Knitted Fabric (0.48).

Most Complex Products by PCI

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The highest complexity exports of Zhejiang Province according to the product complexity index (PCI) are Electric Soldering Equipment (1.79), Metalworking Machines (1.77), Phosphoric Esters and Salts (1.74), Hot-Rolled Stainless Steel Bars (1.73), and Iron Fasteners (1.72). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Vacuum Flask (33.7), Combs (26.2), Embroidery (25.4), Woven Fabric of Synthetic Staple Fibers (24.7), and Glass Beads (23.2).

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 Zhejiang Province is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of  Zhejiang Province. These are products that tend to be co-exported with the products that Zhejiang Province exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a 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 emissions.