Zhejiang Province

Province in China

2019
Economic
Complexity
: 0.21, Rank 9 of 31

Dec 2020
Trade
Exports | Imports
: $37.2B | $11.7B, 3 of 31 | 6 of 31

Dec 2020
Country
Destination | Origin
: United States | Japan , $6.59B  | $969M

Dec 2020
Product
Exports | Imports
: Seats | Iron Ore , $1.14B  | $896M

Overview: This page contains the latest international trade data for Zhejiang Province, including export and import data.

Exports: In 2020, China's Zhejiang Province exported $325B, making it the 3rd largest exporter out of the 31 exporters in China. In 2020 the top exports of Zhejiang Province were Made up articles (textile) nes, textile... ($10.1B), Tricycles, scooters, pedal cars and similar... ($5.03B), Taps, cocks, valves and similar appliances,... ($4.42B), Electric lamps, lighting fittings, nes ($4.08B), and Photosensitive/photovoltaic/LED semiconductor devices ($3.69B).

Imports: In 2020, China's Zhejiang Province imported $121B, making it the 6th largest importer out of the 31 importers in China. In 2020 top imports of Zhejiang Province were Iron ore, concentrate, not iron pyrites,unagglomerate ($9.64B), Petroleum oils, oils from bituminous minerals,... ($7.59B), Copper cathodes and sections of cathodes... ($3.94B), Light petroleum distillates nes ($3.11B), and Copper/copper alloy waste or scrap ($2.7B).

Economic Complexity: In 2019, the highest complexity exports of Zhejiang Province according to the product complexity index (PCI) are Iron Fasteners (1.74), Metalworking Machines (1.73), Hot-Rolled Stainless Steel Bars (1.7), Hand Saws (1.68), and Electric Soldering Equipment (1.68). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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This section shows the differences between Zhejiang Province's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit China's country profile.

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Yearly Exports

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Top Destination (2020): United States, $54.4B

Top Product (2020): Made up articles (textile) nes, textile..., $10.1B

In 2020 the top export destinations of Zhejiang Province were United States ($54.4B), Germany ($15B), Japan ($13.6B), United Kingdom ($11.8B), and India ($10.2B).

In 2020 the top exports of Zhejiang Province were Made up articles (textile) nes, textile... ($10.1B), Tricycles, scooters, pedal cars and similar... ($5.03B), Taps, cocks, valves and similar appliances,... ($4.42B), Electric lamps, lighting fittings, nes ($4.08B), and Photosensitive/photovoltaic/LED semiconductor devices ($3.69B).

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Exports Dynamics

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Fastest Growing Exports Destination (Dec 2019 - Dec 2020)

Rapidly Declining Export Origins (Dec 2019 - Dec 2020)

Yearly Imports

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Depth

Top Origin (2020): South Korea, $10.1B

Top Import (2020): Iron ore, concentrate, not iron pyrites,unagglomerate, $9.64B

In 2020 the top import origins of Zhejiang Province were South Korea ($10.1B), Japan ($9.77B), Australia ($8.79B), Taiwan ($7.03B), and United States ($6.88B).

In 2020 the top imports of Zhejiang Province were Iron ore, concentrate, not iron pyrites,unagglomerate ($9.64B), Petroleum oils, oils from bituminous minerals,... ($7.59B), Copper cathodes and sections of cathodes... ($3.94B), Light petroleum distillates nes ($3.11B), and Copper/copper alloy waste or scrap ($2.7B).

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Imports Dynamics

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Fastest Growing Import Origins (Dec 2019 - Dec 2020)

Rapidly Declining Import Origins (Dec 2019 - Dec 2020)

Economic Complexity

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Economic Complexity of China

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Zhejiang Province ranks 9th out of the 31 provinces in China according to ECI.

Estimated using exports data.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were Zhejiang Province already has a comparative advantage, are led by Cinnamon (0.53), Telephones (0.51), Light Rubberized Knitted Fabric (0.49), Unprocessed Artificial Staple Fibers (0.49), and Artificial Textile Machinery (0.49).

Most Complex Products by PCI

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The highest complexity exports of Zhejiang Province according to the product complexity index (PCI) are Iron Fasteners (1.74), Metalworking Machines (1.73), Hot-Rolled Stainless Steel Bars (1.7), Hand Saws (1.68), and Electric Soldering Equipment (1.68). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Vacuum Flask (28.9), Embroidery (24), Woven Fabric of Synthetic Staple Fibers (23.6), Glass Beads (22.8), and Combs (22.4).

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 Zhejiang 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.

Relatedness Space

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

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.