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Overview This page contains the latest international trade data for Zhejiang Province. In April 2024 Zhejiang Province was the number 2 in total exports and the number 5 in total imports in China.

Exports In 2023, China's Zhejiang Province exported $516B, making it the 2nd largest exporter out of the 31 exporters in China. In 2023 the top exports of Zhejiang Province were Photosensitive devices; assembled photovoltaic modules/panels ($11.4B), Light petroleum distillates nes ($8.51B), Commodities not specified according to kind ($7.15B), Woven fabric >85% textured polyester, dyed,... ($6.73B), and Other toys (wheeled, model scale, puzzles) ($6.66B).

Imports In 2023, China's Zhejiang Province imported $189B, making it the 5th largest importer out of the 31 importers in China. In 2023 top imports of Zhejiang Province were Petroleum oils, oils from bituminous minerals,... ($26.7B), Iron ore, concentrate, not iron pyrites,unagglomerate ($14.1B), Copper cathodes and sections of cathodes... ($11.2B), Copper/copper alloy waste or scrap ($9.38B), and Light petroleum distillates nes ($4.84B).

Economic Complexity In 2023, the highest complexity exports of Zhejiang Province according to the product complexity index (PCI) are Metalworking Machines (2.24), Disc Chemicals for Electronics (2.11), Phosphoric Esters and Salts (1.91), Iron Fasteners (1.83), Rubberworking Machinery (1.83), Hot-Rolled Stainless Steel Bars (1.82), Metal Lathes (1.82), Interchangeable Tool Parts (1.82), Other Organo-Inorganic Compounds (1.8), and Silicone (1.79). 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$74.3B

In 2023 the top export destinations of Zhejiang Province were United States ($74.3B), India ($20.6B), Russia ($18.9B), Mexico ($15.4B), and Germany ($14.9B).

In 2023 the top exports of Zhejiang Province were Photosensitive devices; assembled photovoltaic modules/panels ($11.4B), Light petroleum distillates nes ($8.51B), Commodities not specified according to kind ($7.15B), Woven fabric >85% textured polyester, dyed,... ($6.73B), and Other toys (wheeled, model scale, puzzles) ($6.66B).

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Exports Dynamics

Fastest Growing Exports Destination (Apr 2023 - Apr 2024)
Malaysia $216M (28.8%)
Indonesia $201M (19.4%)
Iraq $179M (46.2%)
Rapidly Declining Export Origins (Apr 2023 - Apr 2024)
Russia -$370M (-21.9%)
Turkey -$241M (-28.8%)
United States -$217M (-2.96%)

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Yearly Imports

Color
Depth
Top Origin (2023)Australia$13.9B

In 2023 the top import origins of Zhejiang Province were Australia ($13.9B), Saudi Arabia ($13.3B), United States ($12.9B), Japan ($11.6B), and Indonesia ($11.1B).

In 2023 the top imports of Zhejiang Province were Petroleum oils, oils from bituminous minerals,... ($26.7B), Iron ore, concentrate, not iron pyrites,unagglomerate ($14.1B), Copper cathodes and sections of cathodes... ($11.2B), Copper/copper alloy waste or scrap ($9.38B), and Light petroleum distillates nes ($4.84B).

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Imports Dynamics

Fastest Growing Import Origins (Apr 2023 - Apr 2024)
Australia $220M (21.6%)
United States $217M (19.3%)
Brazil $192M (39%)
Rapidly Declining Import Origins (Apr 2023 - Apr 2024)
Switzerland -$244M (-85.5%)
Saudi Arabia -$170M (-11.8%)
Indonesia -$128M (-12.5%)

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Economic Complexity

Economic Complexity of Zhejiang Province

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Economic Complexity (2023)0.29

Zhejiang Province ranks 7th 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 Zhejiang Province already has a comparative advantage, are led by Artificial Textile Machinery (0.53), Rubber Apparel (0.52), Calculators (0.51), Computers (0.51), and Video and Card Games (0.51).

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Most Complex Products by PCI

The highest complexity exports of Zhejiang Province according to the product complexity index (PCI) are Metalworking Machines (2.24), Disc Chemicals for Electronics (2.11), Phosphoric Esters and Salts (1.91), Iron Fasteners (1.83), Rubberworking Machinery (1.83), Hot-Rolled Stainless Steel Bars (1.82), Metal Lathes (1.82), Interchangeable Tool Parts (1.82), Other Organo-Inorganic Compounds (1.8), and Silicone (1.79). 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 Glass Beads (31.24), Vacuum Flask (30.43), Embroidery (25.33), Combs (24.26), and Flat panel displays (20.80).

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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 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.

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Relatedness Space

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.

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Diversification Frontier

Depth
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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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