Hubei ProvinceProvince in China
2020 Economic Complexity : 0.093, Rank 22 of 31
Dec 2022 Trade Exports | Imports: $5.33B | $2.23B, 14 of 31 | 19 of 31
Dec 2022 Country Destination | Origin: United States | Japan , $606M | $279M
Dec 2022 Product Exports | Imports: Smartphones | Copper ores and concentrates , $208M | $349M
Overview This page contains the latest international trade data for Hubei Province. In December 2022 Hubei Province was the number 14 in total exports and the number 17 in total imports in China.
Exports In 2022, China's Hubei Province exported $63.3B, making it the 14th largest exporter out of the 31 exporters in China. In 2022 the top exports of Hubei Province were Smartphones ($3.23B), Part Phone, recept Voice ($1.45B), Electronic integrated circuits: memories ($1.35B), Diammonium phosphate, in packs >10 kg ($1.24B), and Parts and accessories of data processing... ($1.07B).
Imports In 2022, China's Hubei Province imported $29.6B, making it the 17th largest importer out of the 31 importers in China. In 2022 top imports of Hubei Province were Electronic integrated circuits: processors and controllers,... ($2.91B), Copper ores and concentrates ($2.35B), Machines and apparatus of a kind... ($2.18B), Iron ore, concentrate, not iron pyrites,unagglomerate ($2.06B), and Petroleum oils, oils from bituminous minerals,... ($1.66B).
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), Magnesium (1.08), Sound Recordings (0.69), Processed Mushrooms (0.16), and Furskin Apparel (-0.46). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
December, 2022
Overview In December 2022 Hubei Province exported $5.33B and imported $2.23B, resulting in a positive trade balance of $3.1B. Between December 2021 and December 2022 the exports of Hubei Province have decreased by $-570M (-9.66%) from $5.9B to $5.33B, while imports increased by $99.3M (4.66%) from $2.13B to $2.23B.
Trade In December 2022, the top exports of Hubei Province were Telephones ($373M), Computers ($132M), Integrated Circuits ($120M), Electric Batteries ($120M), and Cars ($112M). In December 2022 the top imports of Hubei Province were Copper Ore ($349M), Integrated Circuits ($292M), Crude Petroleum ($178M), Iron Ore ($176M), and Machines and apparatus of a kind... ($173M).
Destinations In December 2022, Hubei Province exported mostly to United States ($606M), Hong Kong ($552M), Vietnam ($301M), India ($258M), and South Korea ($256M), and imported mostly from Japan ($279M), Chile ($238M), Taiwan ($199M), United Arab Emirates ($181M), and Brazil ($117M).
Growth In December 2022, the decrease in Hubei Province's year-by-year exports was explained primarily by an decrease in exports to Italy ($-69.6M or -59.7%), Denmark ($-61.6M or -93.7%), and Peru ($-23.4M or -54.8%), and product exports decrease in Felt or Coated Fabric Garments ($-131M or -76.5%), Furskin Apparel ($-44.8M or -89.7%), and Light Fixtures ($-41.4M or -62.2%). In December 2022, the increase in Hubei Province's year-by-year imports was explained primarily by an increase in imports from South Korea ($135M or 70.1%), Taiwan ($117M or 36.6%), and China ($106M or 80.3%), and product imports increase in Integrated Circuits ($326M or 80.1%), Copper Ore ($158M or 369%), and Raw Copper ($26M or 14k%).
EXPORT GROWTH (December 2021 - December 2022): $-570M, (-9.66%)
IMPORT GROWTH (December 2021 - December 2022): $99.3M, (4.66%)
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 (2022): United States, $8.03B
Top Product (2022): Smartphones, $3.23B
In 2022 the top export destinations of Hubei Province were United States ($8.03B), Hong Kong ($5.71B), India ($3.29B), Brazil ($2.98B), and South Korea ($2.83B).
In 2022 the top exports of Hubei Province were Smartphones ($3.23B), Part Phone, recept Voice ($1.45B), Electronic integrated circuits: memories ($1.35B), Diammonium phosphate, in packs >10 kg ($1.24B), and Parts and accessories of data processing... ($1.07B).
Top Origin (2022): Taiwan, $3.68B
Top Import (2022): Electronic integrated circuits: processors and controllers,..., $2.91B
In 2022 the top import origins of Hubei Province were Taiwan ($3.68B), Japan ($3.56B), South Korea ($2.47B), United States ($2.14B), and Australia ($1.61B).
In 2022 the top imports of Hubei Province were Electronic integrated circuits: processors and controllers,... ($2.91B), Copper ores and concentrates ($2.35B), Machines and apparatus of a kind... ($2.18B), Iron ore, concentrate, not iron pyrites,unagglomerate ($2.06B), and Petroleum oils, oils from bituminous minerals,... ($1.66B).
Economic Complexity (2022): 0.093
Hubei Province ranks 22nd 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 Wrenches (0.42), Cinnamon (0.41), Gum Coated Textile Fabric (0.41), Postcards (0.41), and Diazo, Azo or Aoxy Compounds (0.41).
The highest complexity exports of Hubei Province according to the product complexity index (PCI) are Other Organo-Inorganic Compounds (1.44), Magnesium (1.08), Sound Recordings (0.69), Processed Mushrooms (0.16), and Furskin Apparel (-0.46). 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 Processed Mushrooms (100.4), Sound Recordings (98.6), Sound Recordings (98.6), Sound Recordings (98.6), and Sound Recordings (98.6).
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. Bubble size corresponds to exports value by year 2020.
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