China is the world’s biggest trader of physical goods. China exported $2.65 trillion worth of goods and imported $1.55 trillion worth of goods. The combined value is bigger than the US exports and imports.
China is the biggest trader
China is number 1 in total exports in the world (physical goods). China mainly exports:
- broadcasting equipment (HS 8525, $223B, 8.44%)
- computers (HS 8471, $156B, 5.89%)
- integrated circuits (HS 8542, $120B, 4.54%)
- office machine parts (HS 8473, $86.8B, 3.28%)
- other cloth articles (HS 6307, $60.7B, 2.29%).
- broadcasting equipment
- office machine parts
- other cloth articles
The biggest destinations are the US, Hong Kong, Japan, Germany and South Korea.
Chinese exports by growth (% over 2019-220):
- other cloth articles +654%
- felt machinery +632%
- laboratory reagents +407%
- vaccines, blood, antisera, toxins and cultures +355%
- felt or coated fabric garments +250%
- rubber apparel +229%
- hydrometers +169%
- gold +118%
- therapeutic appliances +90.1%
- non-voven textiles +60%.
China is number 2 in total imports globally (physical goods). China imports:
- crude petroleum (HS 2709, $150B, 9.71%)
- integrated circuits (HS 8542, $144B, 9.34%)
- iron ore (HS 2601, $99B, 6.4%)
- cars (HS 8703, $42B, 2.72%)
- soybeans (HS 1201, $37.4B, 2.42%).
China, to produce various items, needs components. The biggest import destination in China its capital city, Beijing. China is the world’s biggest importer of:
- crude petroleum
- iron ore
- petroleum gas
- copper ore.
The biggest suppliers of China are Japan, South Korea, United States, Germany, and Chinese Taipei.
Chinese imports by growth (% over 2019-220):
- raw iron bars +921%
- other foodstuff +827%
- cast or rolled glass +649%
- other stone and glass +557%
- raw aluminium +494%
- stainless steel ingots +447%
- big iron +333%
- semi-finished iron +314%
- hot-rolled iron bars +256%
- diamonds +148%.