Hubei ProvinceProvince in China
2020 Economic Complexity : 0.13, Rank 15 of 31
Oct 2022 Trade Exports | Imports: $4.41B | $2.11B, 16 of 31 | 18 of 31
Oct 2022 Country Destination | Origin: United States | Japan , $437M | $268M
Oct 2022 Product Exports | Imports: Smartphones | Iron ore, concentrate, not iron pyrites,unagglomerate , $189M | $201M
Overview This page contains the latest international trade data for Hubei Province. In October 2022 Hubei Province was the number 15 in total exports and the number 17 in total imports in China.
Exports In 2021, China's Hubei Province exported $54.3B, making it the 15th largest exporter out of the 31 exporters in China. In 2021 the top exports of Hubei Province were Telephones for cellular networks or for... ($4.03B), Telephone sets and other apparatus for... ($1.83B), Electronic integrated circuits: memories ($1.24B), Automatic data processing machines: portable, weighing... ($1.13B), and Other toys (wheeled, model scale, puzzles) ($1.12B).
Imports In 2021, China's Hubei Province imported $28.6B, making it the 17th largest importer out of the 31 importers in China. In 2021 top imports of Hubei Province were Machines and apparatus of a kind... ($2.88B), Electronic integrated circuits: processors and controllers,... ($2.59B), Copper ores and concentrates ($1.81B), Electronic integrated circuits: memories ($1.66B), and Iron ore, concentrate, not iron pyrites,unagglomerate ($1.6B).
Economic Complexity In 2020, the highest complexity exports of Hubei Province according to the product complexity index (PCI) are Other Organo-Inorganic Compounds (1.44), Processed Mushrooms (0.16), Phosphinates (hypophosphites) and phosphonates (phosphites) (0.15), Artificial Vegetation (-0.067), and Inorganic Salts (-0.31). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
October, 2022
Overview In October 2022 Hubei Province exported $4.41B and imported $2.11B, resulting in a positive trade balance of $2.29B. Between October 2021 and October 2022 the exports of Hubei Province have decreased by $-848M (-16.1%) from $5.26B to $4.41B, while imports decreased by $-251M (-10.6%) from $2.37B to $2.11B.
Trade In October 2022, the top exports of Hubei Province were Telephones ($303M), Mixed Mineral or Chemical Fertilizers ($218M), Computers ($142M), Integrated Circuits ($124M), and Cars ($103M). In October 2022 the top imports of Hubei Province were Machines and apparatus of a kind... ($288M), Integrated Circuits ($260M), Iron Ore ($201M), Crude Petroleum ($149M), and Copper Ore ($77.8M).
Destinations In October 2022, Hubei Province exported mostly to United States ($437M), Hong Kong ($375M), India ($299M), South Korea ($239M), and Vietnam ($181M), and imported mostly from Japan ($268M), Taiwan ($216M), Australia ($149M), South Korea ($138M), and Netherlands ($107M).
Growth In October 2022, the decrease in Hubei Province's year-by-year exports was explained primarily by an decrease in exports to Australia ($-14.5M or -28.6%), Belgium ($-10.4M or -25%), and Burma ($-9.76M or -37.8%), and product exports decrease in Sauces and Seasonings ($-28.1M or -95.6%), Railway Freight Cars ($-27.6M or -81.7%), and Non-Knit Men's Suits ($-9.38M or -36.6%). In October 2022, the decrease in Hubei Province's year-by-year imports was explained primarily by an decrease in imports from Chile ($-81.7M or -78%), South Korea ($-45.1M or -19%), and Peru ($-23.6M or -44.2%), and product imports decrease in Copper Ore ($-146M or -77.3%), Telephones ($-43.3M or -53%), and Crude Petroleum ($-17.3M or -24%).
EXPORT GROWTH (October 2021 - October 2022): $-848M, (-16.1%)
IMPORT GROWTH (October 2021 - October 2022): $-251M, (-10.6%)
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 (2021): United States, $8.78B
Top Product (2021): Telephones for cellular networks or for..., $4.03B
In 2021 the top export destinations of Hubei Province were United States ($8.78B), Hong Kong ($6.04B), Brazil ($2.28B), India ($2.26B), and South Korea ($2.06B).
In 2021 the top exports of Hubei Province were Telephones for cellular networks or for... ($4.03B), Telephone sets and other apparatus for... ($1.83B), Electronic integrated circuits: memories ($1.24B), Automatic data processing machines: portable, weighing... ($1.13B), and Other toys (wheeled, model scale, puzzles) ($1.12B).
Fastest Growing Exports Destination (Oct 2021 - Oct 2022)
Rapidly Declining Export Origins (Oct 2021 - Oct 2022)
Top Origin (2021): Japan, $4.43B
Top Import (2021): Machines and apparatus of a kind..., $2.88B
In 2021 the top import origins of Hubei Province were Japan ($4.43B), Taiwan ($3.65B), South Korea ($2.55B), United States ($2.39B), and China ($1.85B).
In 2021 the top imports of Hubei Province were Machines and apparatus of a kind... ($2.88B), Electronic integrated circuits: processors and controllers,... ($2.59B), Copper ores and concentrates ($1.81B), Electronic integrated circuits: memories ($1.66B), and Iron ore, concentrate, not iron pyrites,unagglomerate ($1.6B).
Fastest Growing Import Origins (Oct 2021 - Oct 2022)
Rapidly Declining Import Origins (Oct 2021 - Oct 2022)
Economic Complexity (2021): 0.13
Hubei Province ranks 15th 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 Travel Kits (0.37), Postcards (0.37), Cinnamon (0.36), Gum Coated Textile Fabric (0.36), and Wrenches (0.36).
The highest complexity exports of Hubei Province according to the product complexity index (PCI) are Other Organo-Inorganic Compounds (1.44), Processed Mushrooms (0.16), Phosphinates (hypophosphites) and phosphonates (phosphites) (0.15), Artificial Vegetation (-0.067), and Inorganic Salts (-0.31). 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 Furskin Apparel (63.8), Processed Mushrooms (57.6), Dried Vegetables (47.0), Other Organo-Inorganic Compounds (29.4), and Inorganic Salts (29.0).
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. Bubble size corresponds to exports value by year 2020.
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