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Overview This page contains the latest international trade data for Shandong Province. In April 2024 Shandong Province was the number 4 in total exports and the number 6 in total imports in China.

Exports In 2023, China's Shandong Province exported $307B, making it the 4th largest exporter out of the 31 exporters in China. In 2023 the top exports of Shandong Province were Other games: video game consoles and... ($12.3B), Pneumatic tyres new of rubber for... ($6.6B), Pneumatic tyres new of rubber for... ($4.87B), Other toys (wheeled, model scale, puzzles) ($4.13B), and Commodities not specified according to kind ($3.53B).

Imports In 2023, China's Shandong Province imported $195B, making it the 6th largest importer out of the 31 importers in China. In 2023 top imports of Shandong Province were Petroleum oils, oils from bituminous minerals,... ($50B), Iron ore, concentrate, not iron pyrites,unagglomerate ($12.4B), Electronic integrated circuits: processors and controllers,... ($8.82B), Soya beans: other than seed, whether... ($6.6B), and Light petroleum distillates nes ($6.54B).

Economic Complexity In 2023, the highest complexity exports of Shandong Province according to the product complexity index (PCI) are Metalworking Machines (2.24), Other Esters (2.07), Non-Mechanical Removal Machinery (1.95), Phosphoric Esters and Salts (1.91), Metal Pickling Preparations (1.84), Iron Fasteners (1.83), Rubberworking Machinery (1.83), Metal Lathes (1.82), Other Organo-Inorganic Compounds (1.8), and Hand Saws (1.78). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)United States$37B

In 2023 the top export destinations of Shandong Province were United States ($37B), South Korea ($25.5B), Japan ($20B), Russia ($10.2B), and Malaysia ($9.8B).

In 2023 the top exports of Shandong Province were Other games: video game consoles and... ($12.3B), Pneumatic tyres new of rubber for... ($6.6B), Pneumatic tyres new of rubber for... ($4.87B), Other toys (wheeled, model scale, puzzles) ($4.13B), and Commodities not specified according to kind ($3.53B).

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Exports Dynamics

Fastest Growing Exports Destination (Apr 2023 - Apr 2024)
Hong Kong $554M (85.8%)
Singapore $271M (44.6%)
Malaysia $237M (29.9%)
Rapidly Declining Export Origins (Apr 2023 - Apr 2024)
Japan -$328M (-17.8%)
United States -$275M (-9.38%)
Russia -$180M (-20.2%)

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Yearly Imports

Color
Depth
Top Origin (2023)Malaysia$36.7B

In 2023 the top import origins of Shandong Province were Malaysia ($36.7B), Russia ($25.6B), Brazil ($15.1B), South Korea ($12.3B), and Australia ($11.3B).

In 2023 the top imports of Shandong Province were Petroleum oils, oils from bituminous minerals,... ($50B), Iron ore, concentrate, not iron pyrites,unagglomerate ($12.4B), Electronic integrated circuits: processors and controllers,... ($8.82B), Soya beans: other than seed, whether... ($6.6B), and Light petroleum distillates nes ($6.54B).

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Imports Dynamics

Fastest Growing Import Origins (Apr 2023 - Apr 2024)
South Korea $325M (34.7%)
Brazil $220M (22.6%)
Switzerland $116M (360%)
Rapidly Declining Import Origins (Apr 2023 - Apr 2024)
United States -$270M (-25.8%)
Chinese Taipei -$250M (-53%)
Malaysia -$250M (-8.64%)

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Economic Complexity

Economic Complexity of Shandong Province

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Economic Complexity (2023)0.16

Shandong 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.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Shandong Province already has a comparative advantage, are led by Children's Picture Books (0.53), Jute Yarn (0.53), Other Cloth Articles (0.53), Artificial Textile Machinery (0.52), and Cinnamon (0.52).

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Most Complex Products by PCI

The highest complexity exports of Shandong Province according to the product complexity index (PCI) are Metalworking Machines (2.24), Other Esters (2.07), Non-Mechanical Removal Machinery (1.95), Phosphoric Esters and Salts (1.91), Metal Pickling Preparations (1.84), Iron Fasteners (1.83), Rubberworking Machinery (1.83), Metal Lathes (1.82), Other Organo-Inorganic Compounds (1.8), and Hand Saws (1.78). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Video and Card Games (26.30), Fake Hair (19.80), Basketwork (17.82), Onions (17.31), and Railway Cargo Containers (16.83).

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Product Space

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 Shandong 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.

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Relatedness Space

This network shows the products most related to the production structure of  Shandong Province. These are products that tend to be co-exported with the products that Shandong Province exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

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Diversification Frontier

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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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