Merchandise and service exports from China
China is known as "the world's factory" for being the largest supplier of manufactured goods. In 2021, China exported over 3.2 trillion U.S. dollars of manufactured goods, the highest of all time. That year, China's major exports were automatic data processing machines and components, followed by clothes and clothing accessories, integrated circuits, and mobile phones. As a consequence of the ongoing coronavirus pandemic, an increasing number of exporting enterprises shifted their businesses online. In 2021, China exported around 11 billion yuan worth of goods via cross-border e-commerce.
On the other hand, service exports from China saw substantial growth in 2021. That year, China exported nearly 400 billion U.S. dollars of services, up from approximately 280 billion U.S. dollars in the year prior. Commercial service took up the largest part of China's service exports, while travel and transportation services were among the most exported commercial service categories in China that year.
China's export partners
The United States continued to be China's leading export market in 2021, with exports totaling more than 3.7 trillion yuan. A total of 171 billion dollars worth of pharmaceutical preparations were imported by the U.S. from China in 2021, making it the most imported goods from China. The European Union and ASEAN ranked second and third among China's export destinations, with an export value of more than three trillion yuan each. Meanwhile, owing to the successful launch and expansion of the Belt and Road Initiative, China has opened up new markets in the Middle East and Africa. In 2021, China exported around 6.6 trillion yuan worth of commodities to the countries of the Belt and Road Initiative.
