Hubei ProvinceProvince in China
2020 Economic Complexity : 0.17, Rank 12 of 31
Jan 2021 Trade Exports | Imports: $3.99B | $2.56B, 16 of 31 | 16 of 31
Jan 2021 Country Destination | Origin: United States | Japan , $539M | $510M
Jan 2021 Product Exports | Imports: Telephones for cellular networks or for other wireless... | Machines and apparatus of a kind used solely..., $198M | $384M
Overview: This page contains the latest international trade data for Hubei Province, including export and import data.
Exports: In 2020, China's Hubei Province exported $33.7B, making it the 17th largest exporter out of the 31 exporters in China. In 2020 the top exports of Hubei Province were Made up articles (textile) nes, textile... ($3.25B), Garments made up of textile felts... ($1.56B), Telephones for cellular networks or for... ($1.35B), Telephone sets and other apparatus for... ($849M), and Parts and accessories of data processing... ($757M).
Imports: In 2020, China's Hubei Province imported $21.5B, making it the 17th largest importer out of the 31 importers in China. In 2020 top imports of Hubei Province were Machines and apparatus of a kind... ($1.67B), Machines and apparatus of a kind... ($1.52B), Machines and apparatus of heading 8486:... ($1.47B), Electronic integrated circuits: processors and controllers,... ($1.4B), and Copper ores and concentrates ($1.23B).
Economic Complexity: In 2019, the highest complexity exports of Hubei Province according to the product complexity index (PCI) are Halides (1.86), Other Measuring Instruments (1.86), Other Esters (1.85), Glass with Edge Workings (1.81), and Iron Fasteners (1.81). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In January 2021 Hubei Province exported $3.99B and imported $2.56B, resulting in a positive trade balance of $1.43B. Between January 2020 and January 2021 the exports of Hubei Province have increased by $1.68B (72.8%) from $2.31B to $3.99B, while imports increased by $831M (48%) from $1.73B to $2.56B.
Trade: In January 2021, the top exports of Hubei Province were Telephones ($372M), Computers ($185M), Felt or Coated Fabric Garments ($171M), Passenger and Cargo Ships ($135M), and Office Machine Parts ($108M). In January 2021 the top imports of Hubei Province were Machines and apparatus of a kind... ($712M), Integrated Circuits ($407M), Iron Ore ($157M), Other Measuring Instruments ($84.8M), and Crude Petroleum ($54.7M).
Destinations: In January 2021, Hubei Province exported mostly to United States ($539M), Hong Kong ($377M), India ($193M), Brazil ($154M), and South Korea ($149M), and imported mostly from Japan ($510M), Taiwan ($320M), United States ($280M), South Korea ($193M), and China ($132M).
Growth: In January 2021, the increase in Hubei Province's year-by-year exports was explained primarily by an increase in exports to United States ($188M or 53.6%), Italy ($90.6M or 348%), and Philippines ($70M or 170%), and product exports increase in Telephones ($174M or 87.5%), Felt or Coated Fabric Garments ($132M or 332%), and Computers ($114M or 163%). In January 2021, the increase in Hubei Province's year-by-year imports was explained primarily by an increase in imports from Japan ($222M or 77.3%), United States ($202M or 261%), and Netherlands ($115M or 1.67k%), and product imports increase in Machines and apparatus of a kind... ($427M or 149%), Integrated Circuits ($137M or 50.7%), and Iron Ore ($109M or 225%).
EXPORT GROWTH (January 2020 - January 2021): $1.68B, (72.8%)
IMPORT GROWTH (January 2020 - January 2021): $831M, (48%)
This section shows exports and imports data at subnational level for Hubei Province. 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 Hubei Province over time.
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Top Destination (2020): United States, $5.66B
Top Product (2020): Made up articles (textile) nes, textile..., $3.25B
In 2020 the top export destinations of Hubei Province were United States ($5.66B), India ($1.42B), South Korea ($1.4B), Germany ($1.34B), and Japan ($1.28B).
In 2020 the top exports of Hubei Province were Made up articles (textile) nes, textile... ($3.25B), Garments made up of textile felts... ($1.56B), Telephones for cellular networks or for... ($1.35B), Telephone sets and other apparatus for... ($849M), and Parts and accessories of data processing... ($757M).
Fastest Growing Exports Destination (Jan 2020 - Jan 2021)
Top Origin (2020): Japan, $3.73B
Top Import (2020): Machines and apparatus of a kind..., $1.67B
In 2020 the top import origins of Hubei Province were Japan ($3.73B), Taiwan ($2.8B), South Korea ($2.63B), United States ($1.78B), and China ($1.21B).
In 2020 the top imports of Hubei Province were Machines and apparatus of a kind... ($1.67B), Machines and apparatus of a kind... ($1.52B), Machines and apparatus of heading 8486:... ($1.47B), Electronic integrated circuits: processors and controllers,... ($1.4B), and Copper ores and concentrates ($1.23B).
Fastest Growing Import Origins (Jan 2020 - Jan 2021)
Rapidly Declining Import Origins (Jan 2020 - Jan 2021)
Economic Complexity (2020): 0.17
Hubei Province ranks 12th out of the 31 provinces in China according to ECI.
The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.
Estimated using exports data.
The top export opportunities according to the relatedness level, without considering those products were Hubei Province already has a comparative advantage, are led by Textile Footwear (0.38), Gum Coated Textile Fabric (0.38), Children's Picture Books (0.38), Diazo, Azo or Aoxy Compounds (0.38), and Semiconductor Devices (0.37).
The highest complexity exports of Hubei Province according to the product complexity index (PCI) are Halides (1.86), Other Measuring Instruments (1.86), Other Esters (1.85), Glass with Edge Workings (1.81), and Iron Fasteners (1.81). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Other Cloth Articles (115), Felt or Coated Fabric Garments (79.5), Furskin Apparel (59.6), Dried Vegetables (57), and Processed Mushrooms (34.6).
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 Hubei 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.
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.
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