Given that China's trade with the world rose some 400 percent from US$281 billion in 1995 to $1.5 trillion in 2005, which global trade partners stand to benefit the most?
The list below gives us perspective on which countries imported the most Chinese goods in 2005. Amounts shown are $US billion, with the percentage change from 2004 in brackets.
Top Countries China Exports To
- United States = $162.9 (+30%)
- Hong Kong = $124.5 (+23%)
- Japan = $84 (+14%)
- South Korea = $35.1 (+26%)
- Germany = $32.5 (+37%)
- Netherlands = $25.9 (+40%)
- United Kingdom = $19 (+27%)
- Singapore = $16.6 (+31%)
- Taiwan = $16.6 (+22%)
- Russia = $13.2 (+45%)
The next list shows the countries from which China bought the most imports in 2005, with the percentage change from 2004 in brackets.
Top Countries China Imports From
- Japan = $100.5 (+9%)
- South Korea = $76.8 (+23%)
- Taiwan = $74.7 (+15%)
- United States = $48.7 (+9%)
- Germany = $30.7 (+1%)
- Malaysia = $20.1 (+11%)
- Singapore = $16.5 (+18%)
- Australia = $16.2 (+40%)
- Russia = $15.9 (+31%)
- Thailand = $14 (+21%)
Seven countries are among both China's top exporters and top importers. Of those, China exports more than it imports from three countries and is therefore in a surplus position.
China's Trade Surpluses by Country
- United States = +$114.2 ($162.9-$48.7)
- Germany = +$1.8 ($32.5-$30.7)
- Singapore = +$0.1 ($16.6-$16.5)
The following list identifies the four major trading partners from which China buys more than it sells to.
China's Trade Deficits by Country
- Taiwan = -$58.1 ($16.6-$74.7)
- South Korea = -$41.7 ($35.1-$76.8)
- Japan = -$16.5 ($84.0-$100.5)
- Russia = -$2.7 ($13.2-$15.9)
And The Winners Are...
China maintains a healthy surplus with the majority of its trading partners. The People's Republic has run an overall trade surplus for more than 10 consecutive years. China's surplus has increased over 500% from $16.7 billion in 1995 to $101.8 billion in 2005.
Among its trading partners, South Korea ran a surplus of over $40 million in 2005. And with South Korean exports to China growing at a healthy 23% in 2005, South Korea appears to a prime beneficiary for China's robust economy. In comparison, Japanese and American exports to China rose only 6.5 percent and 9.1 percent respectively.
Sources: Organisation for Economic Co-operation and Development, PRC General Administration of Customs, China's Customs Statistics
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