Annual growth rate of imported goods in China 2011-2021
In 2021, goods imports to China increased by about 21.5 percent compared to the previous year. Resulting from the ease of Sino-U.S. trade war and the recovery from COVID-19 pandemic, China's international trade saw significant growth in that year.
Goods import to China
In 2021, China’s total international trade value reached 39.1 trillion yuan, comprised of 21.7 trillion yuan merchandise export value and 17.4 trillion yuan import value. Imports accounted for more than 15 percent of the gross domestic product (GDP) that year.
China is the world’s second largest merchandise importer after the United States. Among the country’s major import goods are integrated circuits, crude oil, iron ore, plastics in primary forms, and motor vehicles. However, coal was the fastest growing product category in 2021, in terms of import volume.
The ASEAN and the Europe Union were the major regions exporting to China in 2021, each accounting for over 11 percent of China’s total imports. The closest neighbors – South Korea, Taiwan, and Japan – each covered around eight percent of the total import value, followed by the United States with a share of approximately 6.7 percent.
Import growth
The first months of 2021 witnessed a surge in Chinese import growth, resulting from a swift recovery from the coronavirus pandemic. On the other hand, the ease of the China-U.S. trade relationship is boosting corporate confidence and pickup in domestic demand.
Goods import to China
In 2021, China’s total international trade value reached 39.1 trillion yuan, comprised of 21.7 trillion yuan merchandise export value and 17.4 trillion yuan import value. Imports accounted for more than 15 percent of the gross domestic product (GDP) that year.
China is the world’s second largest merchandise importer after the United States. Among the country’s major import goods are integrated circuits, crude oil, iron ore, plastics in primary forms, and motor vehicles. However, coal was the fastest growing product category in 2021, in terms of import volume.
The ASEAN and the Europe Union were the major regions exporting to China in 2021, each accounting for over 11 percent of China’s total imports. The closest neighbors – South Korea, Taiwan, and Japan – each covered around eight percent of the total import value, followed by the United States with a share of approximately 6.7 percent.
Import growth
The first months of 2021 witnessed a surge in Chinese import growth, resulting from a swift recovery from the coronavirus pandemic. On the other hand, the ease of the China-U.S. trade relationship is boosting corporate confidence and pickup in domestic demand.
