Hubei ProvinceProvince in China
2022 Economic Complexity : 0.098, Rank 21 of 31
Feb 2023 Trade Exports | Imports: $3.94B | $2.22B, 14 of 31 | 18 of 31
Feb 2023 Country Destination | Origin: Hong Kong | Japan , $415M | $418M
Feb 2023 Product Exports | Imports: Smartphones | Machines and apparatus of a kind used solely..., $199M | $364M
Overview This page contains the latest international trade data for Hubei Province. In February 2023 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 ($2.07B), and Petroleum oils, oils from bituminous minerals,... ($1.66B).
Economic Complexity In 2022, the highest complexity exports of Hubei Province according to the product complexity index (PCI) are Other Organo-Inorganic Compounds (1.46), Sound Recordings (0.94), Magnesium (0.91), Processed Mushrooms (0.21), and Phosphinates (hypophosphites) and phosphonates (phosphites) (-0.015). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
February, 2023
Overview In February 2023 Hubei Province exported $3.94B and imported $2.22B, resulting in a positive trade balance of $1.72B. Between February 2022 and February 2023 the exports of Hubei Province have increased by $435M (12.4%) from $3.5B to $3.94B, while imports increased by $315M (16.6%) from $1.9B to $2.22B.
Trade In February 2023, the top exports of Hubei Province were Telephones ($320M), Cars ($128M), Integrated Circuits ($113M), Hot-Rolled Iron ($99.7M), and Coated Flat-Rolled Iron ($99.5M). In February 2023 the top imports of Hubei Province were Machines and apparatus of a kind... ($386M), Copper Ore ($284M), Integrated Circuits ($202M), Crude Petroleum ($174M), and Iron Ore ($124M).
Destinations In February 2023, Hubei Province exported mostly to Hong Kong ($415M), United States ($393M), Vietnam ($274M), South Korea ($180M), and India ($167M), and imported mostly from Japan ($418M), United Arab Emirates ($178M), Taiwan ($166M), South Korea ($128M), and Peru ($115M).
Growth In February 2023, the increase in Hubei Province's year-by-year exports was explained primarily by an increase in exports to Hong Kong ($253M or 67.1%), South Korea ($62.3M or 41.9%), and United States ($58.8M or 10.9%), and product exports increase in Telephones ($210M or 56.4%), Integrated Circuits ($122M or 138%), and Coated Flat-Rolled Iron ($84.5M or 821%). In February 2023, 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 80.2%), Copper Ore ($157M or 368%), and Raw Copper ($26.1M or 14.1k%).
EXPORT GROWTH (February 2022 - February 2023): $435M, (12.4%)
IMPORT GROWTH (February 2022 - February 2023): $315M, (16.6%)
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 (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 ($1.6B).
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 ($2.07B), and Petroleum oils, oils from bituminous minerals,... ($1.66B).
Fastest Growing Import Origins (Feb 2022 - Feb 2023)
Rapidly Declining Import Origins (Feb 2022 - Feb 2023)
Economic Complexity (2022): 0.098
Hubei Province ranks 21st 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 Rubber Apparel (0.41), Cinnamon (0.4), Wrenches (0.4), Postcards (0.4), and Woven Fabric of Synthetic Staple Fibers (0.39).
The highest complexity exports of Hubei Province according to the product complexity index (PCI) are Other Organo-Inorganic Compounds (1.46), Sound Recordings (0.94), Magnesium (0.91), Processed Mushrooms (0.21), and Phosphinates (hypophosphites) and phosphonates (phosphites) (-0.015). 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 Sound Recordings (207.3), Processed Mushrooms (92.7), Furskin Apparel (60.6), Curbstones (49.1), and Dithionites and Sulfoxylates (32.7).
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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