Share of main export partners of China 2019
In 2019, the European Union countries imported approximately 17.2 percent of the Chinese export volume. The United States was the second largest Chinese merchandise importer that year.
Distribution of Chinese exports
In 2019, China exported goods with a total value of more than 17.2 trillion yuan and imported goods with a value of 14.3 trillion yuan. That year, China ranked second among the countries with the largest gross domestic product, following the United States.
China’s economic prosperity has been closely related to its status as the world’s factory. For about a decade between 2005 and 2015, exports contributed more than 20 percent to China’s gross domestic product. However, the share of exports to GDP contribution is currently on the decline. Nonetheless, China maintains a trade surplus of about 351 billion U.S. dollars and remains first among countries with the highest trade surplus worldwide as of 2017. While China displays high growth potential for service exports such as tourism, transportation, banking and financial services, as well as insurance and education services, the main focus of China’s export industry remains merchandise. In 2018, Chinese merchandise exports made up 12.8 percent of all global exports, whereas service based exports contributed only 4.6 percent.
In terms of most exported merchandise categories, food and live animals used for food were the main primary goods. Among the manufactured goods, automatic data processing machines, apparel, phones, and textile articles were the categories with the highest export value in China in 2019.
Distribution of Chinese exports
In 2019, China exported goods with a total value of more than 17.2 trillion yuan and imported goods with a value of 14.3 trillion yuan. That year, China ranked second among the countries with the largest gross domestic product, following the United States.
China’s economic prosperity has been closely related to its status as the world’s factory. For about a decade between 2005 and 2015, exports contributed more than 20 percent to China’s gross domestic product. However, the share of exports to GDP contribution is currently on the decline. Nonetheless, China maintains a trade surplus of about 351 billion U.S. dollars and remains first among countries with the highest trade surplus worldwide as of 2017. While China displays high growth potential for service exports such as tourism, transportation, banking and financial services, as well as insurance and education services, the main focus of China’s export industry remains merchandise. In 2018, Chinese merchandise exports made up 12.8 percent of all global exports, whereas service based exports contributed only 4.6 percent.
In terms of most exported merchandise categories, food and live animals used for food were the main primary goods. Among the manufactured goods, automatic data processing machines, apparel, phones, and textile articles were the categories with the highest export value in China in 2019.
