Zhejiang ProvinceProvince 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.
Overview: In December 2020 Zhejiang Province exported $37.2B and imported $11.7B, resulting in a positive trade balance of $25.5B. Between December 2019 and December 2020 the exports of Zhejiang Province have increased by $5.76B (18.3%) from $31.5B to $37.2B, while imports increased by $798M (7.3%) from $10.9B to $11.7B.
Trade: In December 2020, the top exports of Zhejiang Province were Seats ($1.14B), Synthetic Filament Yarn Woven Fabric ($774M), Light Fixtures ($748M), Vehicle Parts ($737M), and Valves ($649M). In December 2020 the top imports of Zhejiang Province were Iron Ore ($896M), Refined Copper ($653M), Crude Petroleum ($597M), Ethylene Polymers ($484M), and Petroleum Gas ($332M).
Destinations: In December 2020, Zhejiang Province exported mostly to United States ($6.59B), Germany ($1.62B), India ($1.31B), Japan ($1.26B), and United Kingdom ($1.21B), and imported mostly from Japan ($969M), United States ($814M), South Korea ($811M), Australia ($687M), and Taiwan ($658M).
Growth: In December 2020, the increase in Zhejiang Province's year-by-year exports was explained primarily by an increase in exports to United States ($1.81B or 37.8%), Germany ($352M or 27.7%), and Australia ($258M or 44.6%), and product exports increase in Blood, antisera, vaccines, toxins and cultures ($336M or 1.58k%), Telephones ($331M or 215%), and Refined Petroleum ($292M or 125%). In December 2020, the increase in Zhejiang Province's year-by-year imports was explained primarily by an increase in imports from United States ($394M or 93.9%), Vietnam ($295M or 106%), and Iran ($266M or 175%), and product imports increase in Refined Copper ($288M or 78.8%), Telephones ($238M or 1.84k%), and Coal Briquettes ($206M or 939M%).
EXPORT GROWTH (December 2019 - December 2020): $5.76B, (18.3%)
IMPORT GROWTH (December 2019 - December 2020): $798M, (7.3%)
This section shows exports and imports data at subnational level for Zhejiang 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 Zhejiang Province over time.
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.
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).
Fastest Growing Exports Destination (Dec 2019 - Dec 2020)
Rapidly Declining Export Origins (Dec 2019 - Dec 2020)
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).
Zhejiang Province ranks 9th 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 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).
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.
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.
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.
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