Share of imports in gross domestic product (GDP) in China 2008-2018
The statistic shows China's share of imports in gross domestic product (GDP) from 2008 to 2018. In 2018, imports had accounted for almost 15.7 percent of China's gross domestic product (GDP).
Import development in China – additional information
Trade is essential to modern economies. The imports-to-GDP ratio measures a country’s openness to inward trade. One similar indicator is the trade-to-GDP-ratio, which is the sum of exports and imports divided by GDP. It is used to measure a country’s integration in the world economy.
As of 2013, China was the third largest merchandise importing nation worldwide, representing 12.9 percent of all global imports of goods. China’s imports of goods had grown five fold over one decade. In 2003, the import value stood at merely 0.4 trillion U.S. dollars, whereas in 2013, China brought forth almost two trillion U.S. Dollars worth of imported commodities, its main import categories being machinery, transport equipment and mineral fuels. Meanwhile, the monetary value of services imported to China, although much lower than merchandise imports, also soared from 39 billion in 2003 to 280 billion U.S. Dollars in 2013.
In 2013, the European Union was the most important import partner for China, with imports amounting to approximately 220 million U.S. dollars. Machinery and transport equipment accounted for more than half of the imports from the EU to China. According to Eurostat, exports from the European Union to China had increased by 2.9 percent in 2013. That same year, the European Union imported around 280 billion Euros worth of goods from China, resulting in a trade deficit of roughly 130 billion Euros. Trade deficits were most significant in sectors such as machinery, transport equipment and apparel manufacturing.
Import development in China – additional information
Trade is essential to modern economies. The imports-to-GDP ratio measures a country’s openness to inward trade. One similar indicator is the trade-to-GDP-ratio, which is the sum of exports and imports divided by GDP. It is used to measure a country’s integration in the world economy.
As of 2013, China was the third largest merchandise importing nation worldwide, representing 12.9 percent of all global imports of goods. China’s imports of goods had grown five fold over one decade. In 2003, the import value stood at merely 0.4 trillion U.S. dollars, whereas in 2013, China brought forth almost two trillion U.S. Dollars worth of imported commodities, its main import categories being machinery, transport equipment and mineral fuels. Meanwhile, the monetary value of services imported to China, although much lower than merchandise imports, also soared from 39 billion in 2003 to 280 billion U.S. Dollars in 2013.
In 2013, the European Union was the most important import partner for China, with imports amounting to approximately 220 million U.S. dollars. Machinery and transport equipment accounted for more than half of the imports from the EU to China. According to Eurostat, exports from the European Union to China had increased by 2.9 percent in 2013. That same year, the European Union imported around 280 billion Euros worth of goods from China, resulting in a trade deficit of roughly 130 billion Euros. Trade deficits were most significant in sectors such as machinery, transport equipment and apparel manufacturing.
