Hubei ProvinceProvince in China
2019 Economic Complexity: 0.17, Rank 12 of 31
Dec 2020 Trade Exports | Imports: $4.62B | $2.15B, 13 of 31 | 18 of 31
Dec 2020 Country Destination | Origin: Hong Kong | Japan , $683M | $455M
Dec 2020 Product Exports | Imports: Telephones | Integrated Circuits , $487M | $385M
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 Other Esters (1.96), Halides (1.79), Glass with Edge Workings (1.78), Non-Mechanical Removal Machinery (1.69), and Hand Saws (1.68). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In December 2020 Hubei Province exported $4.62B and imported $2.15B, resulting in a positive trade balance of $2.47B. Between December 2019 and December 2020 the exports of Hubei Province have increased by $1.39B (43.1%) from $3.23B to $4.62B, while imports increased by $463M (27.4%) from $1.69B to $2.15B.
Trade: In December 2020, the top exports of Hubei Province were Telephones ($487M), Integrated Circuits ($320M), Computers ($214M), Felt or Coated Fabric Garments ($184M), and Electrical Resistors ($154M). In December 2020 the top imports of Hubei Province were Integrated Circuits ($385M), Machines and apparatus of a kind... ($355M), Iron Ore ($99.4M), Copper Ore ($92.3M), and Platinum ($90.6M).
Destinations: In December 2020, Hubei Province exported mostly to Hong Kong ($683M), United States ($604M), Malaysia ($297M), South Korea ($235M), and India ($186M), and imported mostly from Japan ($455M), Taiwan ($287M), South Korea ($214M), United States ($149M), and China ($125M).
Growth: In December 2020, the increase in Hubei Province's year-by-year exports was explained primarily by an increase in exports to United States ($146M or 32%), Malaysia ($123M or 70.9%), and South Korea ($117M or 99.2%), and product exports increase in Telephones ($253M or 108%), Integrated Circuits ($233M or 267%), and Electrical Resistors ($153M or 12.7k%). In December 2020, the increase in Hubei Province's year-by-year imports was explained primarily by an increase in imports from Taiwan ($162M or 130%), Japan ($142M or 45.4%), and China ($42.1M or 50.6%), and product imports increase in Integrated Circuits ($176M or 84.2%), Copper Ore ($53.4M or 138%), and Platinum ($51.1M or 130%).
EXPORT GROWTH (December 2019 - December 2020): $1.39B, (43.1%)
IMPORT GROWTH (December 2019 - December 2020): $463M, (27.4%)
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.
This section shows the differences between Hubei Province's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit China's country profile.
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 (Dec 2019 - Dec 2020)
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 (Dec 2019 - Dec 2020)
Rapidly Declining Import Origins (Dec 2019 - Dec 2020)
Hubei Province ranks 12th out of the 31 provinces in China according to ECI.
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 Cinnamon (0.44), Wrenches (0.42), Gum Coated Textile Fabric (0.42), Woven Fabric of Synthetic Staple Fibers (0.41), and Non-Knit Gloves (0.41).
The highest complexity exports of Hubei Province according to the product complexity index (PCI) are Other Esters (1.96), Halides (1.79), Glass with Edge Workings (1.78), Non-Mechanical Removal Machinery (1.69), and Hand Saws (1.68). 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 (146), Dried Vegetables (61.8), Hypochlorites (28.8), Other Organo-Inorganic Compounds (26.8), and Phosphinates and Phosphonates (25.2).
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 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.
Have questions, comments, or concerns?
Send us an e-mail: [email protected]
v4.0.7 bee