Overview In 2019 China was the number 2 economy in the world in terms of GDP (current US$), the number 1 in total exports, the number 2 in total imports, the number 71 economy in terms of GDP per capita (current US$) and the number 29 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of China are Broadcasting Equipment ($208B), Computers ($141B), Integrated Circuits ($108B), Office Machine Parts ($82.7B), and Telephones ($54.8B), exporting mostly to United States ($429B), Hong Kong ($268B), Japan ($152B), South Korea ($108B), and Germany ($96.9B).

In 2019, China was the world's biggest exporter of Broadcasting Equipment ($208B), Computers ($141B), Office Machine Parts ($82.7B), Telephones ($54.8B), and Semiconductor Devices ($34.8B)

Imports The top imports of China are Crude Petroleum ($204B), Integrated Circuits ($123B), Iron Ore ($83.1B), Petroleum Gas ($47.8B), and Cars ($43.1B), importing mostly from South Korea ($136B), Japan ($128B), Australia ($111B), Germany ($107B), and United States ($103B).

In 2019, China was the world's biggest importer of Crude Petroleum ($204B), Iron Ore ($83.1B), Petroleum Gas ($47.8B), Soybeans ($32.1B), and Copper Ore ($31.3B)

Location China borders North Korea, Russia, Mongolia, Kazakhstan, Tajikistan, Kyrgyzstan, Afghanistan, Pakistan, India, Nepal, Bhutan, Laos, Vietnam, Hong Kong, and Macau by land and Indonesia, Brunei, Japan, South Korea, Malaysia, and Philippines by sea.

July, 2021

Historical Data

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Yearly Exports

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Top Export (2019): Broadcasting Equipment, $208B

Top Destination (2019): United States, $429B

In 2019, China exported a total of $2.57T, making it the number 1 exporter in the world. During the last five reported years the exports of China have changed by $194B from $2.38T in 2014 to $2.57T in 2019.

The most recent exports are led by Broadcasting Equipment ($208B), Computers ($141B), Integrated Circuits ($108B), Office Machine Parts ($82.7B), and Telephones ($54.8B). The most common destination for the exports of China are United States ($429B), Hong Kong ($268B), Japan ($152B), South Korea ($108B), and Germany ($96.9B).

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Yearly Imports

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Top Import (2019): Crude Petroleum, $204B

Top Origin (2019): South Korea, $136B

In 2019 China imported $1.58T, making it the number 2 trade destination in the world. During the last five reported years the imports of China changed by $101B from $1.47T in 2014 to $1.58T in 2019.

The most recent imports of China are led by Crude Petroleum ($204B), Integrated Circuits ($123B), Iron Ore ($83.1B), Petroleum Gas ($47.8B), and Cars ($43.1B). The most common import partners for China are South Korea ($136B), Japan ($128B), Australia ($111B), Germany ($107B), and United States ($103B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

China Exports Services (2018): $209B

China Imports Services (2018): $523B

In 2018, China exported $209B worth of services. The top services exported by China in 2018 were Other business services ($66.2B), Transportation ($42.3B), Travel ($40.4B), Computer and information services ($30B), and Construction services ($13.6B).

The top services imported by China in 2018 were Travel ($277B), Transportation ($109B), Other business services ($47B), Royalties and license fees ($35.8B), and Computer and information services ($23.5B).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for China are Vermouth and other flavoured grape wines - pack < 2l (65%) and Vermouth and other flavoured grape wines - pack > 2l (65%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for China are:
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
112: China Preferential tariff for Least Developed Countries
125: General duty rate
136: Most Favoured Nation duty rate treatement
158: Preferential tariff for 3 selected LDCs Countries: Myanmar, Benin and Timor Leste
165: Preferential tariff for Australia
168: Preferential tariff for Bangladesh
176: Preferential tariff for Cambodia
182: Preferential tariff for Chile
188: Preferential tariff for Chinese Taipei
192: Preferential tariff for Costa Rica
226: Preferential tariff for Georgia
235: Preferential tariff for Hong Kong
238: Preferential tariff for Iceland
249: Preferential tariff for Korea, Republic of
252: Preferential tariff for Lao PDR
261: Preferential tariff for Macau
275: Preferential tariff for Myanmar
277: Preferential tariff for New Zealand
284: Preferential tariff for Pakistan
289: Preferential tariff for Peru
299: Preferential tariff for Singapore
307: Preferential tariff for Switzerland and Liechtenstein
343: Preferential trade agreement (APTA) Asia-Pacific Trade Agreement or (Previously named:Bangkok Agreement)
372: Special Preferential tariff (SP) for 2 Asia Pacific Countries

Economic Complexity

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Comparison Map

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This section shows exports, imports and economic complexity data at subnational level for China. Click any of the Subnational Level in the geomap to visit the specific subnational profile.

The top territories of China according to its Economic Complexity Index are N/A.

In 2020, the principal exporters of China were Guangdong Province ($510B), Jiangsu Province ($342B), and Zhejiang Province ($325B).

The same year,  the principal importers  of China were Guangdong Province ($388B), Shanghai Province ($291B), and Beijing ($265B).

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Most Specialized Products by RCA Index

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China has a high level of specialization in Artificial Vegetation (6.39), Party Decorations (5.71), Umbrellas (5.68), Vacuum Flask (5.47), and Portable Lighting (5.39). Specialization is measured using RCA, an index that takes the ratio between China observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of China according to the product complexity index (PCI) are Chemical element/compound wafers doped for electronics (2.18), Esters of inorganic acids nes, salts, derivatives (1.83), Machine-tools for non-mechanical removal of material (1.81), Screws, bolts, nuts, rivets, washers, etc, iron, steel (1.81), and Interchangeable tools and dies for hand or power tools (1.79). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for China according to the relatedness index, are N/A. Relatedness measures the distance between a country's current exports and each product. The barchart show only products that China is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

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During the last 20 years China's⁩ ⁨economy has become relatively más complex, moving from the ⁩⁨59th to the 29th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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