Change in monthly exports in China 2021-2023
Export industry development
In the past decade, China has been the largest exporter of goods in the world, accounting for nearly 15 percent of the total global merchandise exports as of 2021. China exports around a third of all household and hi-tech goods traded worldwide and nearly a quarter of all textile and apparel. The country’s exports dropped significantly the year after the global financial crisis of 2007-2008 yet reached its record growth of 31.3 percent in 2010. Chinese export growth has been decelerating as a result of the Sino-U.S. trade war between 2017 and 2020. The outbreak of the global Coronavirus pandemic, however, provided the country with a new opportunity in its export trade. That year, China recorded over 21 percent year-on-year growth in exports.
The United States, European Union, and ASEAN countries were China’s leading export trade partners in 2021. These regions accounted for nearly half of all exports from China that year. That year, China also hit another record for exports to countries along the BRI (belt-and-road initiative).