Business

Imports of China                                                                                                          

Coconuts - Gambia Organic chemicals - India  Machinery - Vietnam                   Crude oil  - Saudi Arabia    Wood chips - Australia

Exports of China 

Articles of Iron and Steal - Australia

Fertilizers - India 

Plastics -  Gambia 

Fabric -     Vietnam 

Railway tramways - Saudi Arabia         

 Trading with the world

In 1995, the value of China’s imports and exports of goods totaled $280.9 billion or 3 percent of global trade. By 2018, its total trade in goods had jumped to $4.6 trillion or 12.4 percent of global trade. The value of China’s exports in goods annually surpasses the amount it imports from the rest of the world.1 In 2018, China exported $2.49 trillion in goods while it imported $2.13 trillion. The majority of China’s surplus comes from trade with the US and Hong Kong. China’s trade with the US expanded in 2018 compared to 2017, and its exports to the US reached record levels. China exported $480 billion worth of goods to the US in 2018 (19 percent of all its exports), but only imported $156 billion (7.3 percent of all its imports). In the case of Hong Kong, China exported $303 billion in 2017 (12.2 percent of total exports) and imported just $9 billion (0.4 percent of total imports).

The stacked area chart below depicts the value of China’s imports and exports with the world. The trend line represents China’s global trade balance. Hover over the interactive to see additional details. China’s trade with the rest of the world is more balanced. When excluding trade with the US and Hong Kong, China exported $1.71 trillion and imported $1.97 trillion in goods in 2018. Use the tool below to explore China’s trade surplus with key partners besides the US and Hong Kong. The interactive can also be used to explore the economies with which China has a trade deficit, such as South Korea. The “customize” option allows users to compare up to nine trading partners of interest. It is also important to consider the value of China’s trade in services. As China’s economy has matured, the demand for services has grown. Between 2000 and 2017, the value of services imported by China grew from $36 billion to $470 billion. These services come from advanced economies. In 2017, China’s trade in services with the US totaled $75 billion, which makes up between 10-12 percent of total trade between the two economic powerhouses. In contrast to their trade in goods, trade in services tips heavily in favor of the US. China imported $57.6 billion in services from the US in 2017 while it exported only $17.4 billion to the US.

Hong Kong and the European Union are also major services providers. Services imports from Hong Kong hit $39.6 billion in 2017. China imported $42.9 billion in services from the EU in 2016.