Export trade in China

Published by Statista Research Department, Mar 26, 2019
In 2009, China overtook Germany as the largest exporting nation worldwide. Since 2014, China is not only the world’s largest exporter, but also the largest trading nation in terms of the sum of its exports in imports. In 2017, China’s trade surplus stood at around 421 billion U.S. dollars and its exports of goods totaled almost 2.3 trillion U.S. dollars, up nearly eleven percent from the previous year. In the same year, China’s export of goods and services constituted 18.5 percent of GDP.

In 2018, China’s major export goods were automatic data processing machines and components, followed by clothes and clothing accessories, mobile telephones, textile, and integrated circuits. Travel and transportation services were among most exported service categories in China in 2017.

With exports amounting to almost 3.2 trillion yuan, the United States was China’s top export market in 2018. The European Union came in second with 2.7 trillion yuan worth of exports from China. ASEAN is the third leading trading partner with exports amounting to 2.1 trillion yuan. The three export partners account for nearly half of China’s total exports.

China’s trade surplus continues to narrow since 2016 indicating that the country can no longer majorly rely on exports to boost its economy, but rather focus on a sustainable balance of trade.



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