Overview: In December 2020 Beijing exported $5.69B and imported $25.2B, resulting in a negative trade balance of $19.5B. Between December 2019 and December 2020 the exports of Beijing have decreased by $-702M (-11%) from $6.4B to $5.69B, while imports decreased by $-3.85B (-13.3%) from $29.1B to $25.2B.
Trade: In December 2020, the top exports of Beijing were Refined Petroleum ($1.32B), Telephones ($956M), Blood, antisera, vaccines, toxins and cultures ($249M), Integrated Circuits ($186M), and Vehicle Parts ($125M). In December 2020 the top imports of Beijing were Crude Petroleum ($6.81B), Cars ($3.52B), Petroleum Gas ($1.95B), Iron Ore ($1.73B), and Soybeans ($556M).
Destinations: In December 2020, Beijing exported mostly to Hong Kong ($736M), Philippines ($328M), Singapore ($313M), United States ($302M), and Japan ($241M), and imported mostly from United States ($4.58B), Germany ($2.25B), Australia ($1.77B), Japan ($1.27B), and Russia ($1.22B).
Growth: In December 2020, the decrease in Beijing's year-by-year exports was explained primarily by an decrease in exports to Singapore ($-635M or -67%), United States ($-182M or -37.6%), and Australia ($-165M or -56.2%), and product exports decrease in Refined Petroleum ($-857M or -39.4%), Electrical Transformers ($-111M or -72.2%), and Iron Structures ($-67.4M or -51.3%). In December 2020, the decrease in Beijing's year-by-year imports was explained primarily by an decrease in imports from Australia ($-917M or -34.1%), Oman ($-831M or -61.6%), and Angola ($-730M or -45.7%), and product imports decrease in Crude Petroleum ($-4.75B or -41.1%), Gold ($-2.05B or -100%), and Petroleum Gas ($-351M or -15.2%).