China's Top Trading Partners

Chinese Exports & Imports Soar

© Daniel Workman

Jun 26, 2006
Yangtze River in China , kconnors@MORGUEFILE.COM (169393)
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

This analysis is based on latest statistics from the US Census Bureau - Foreign Trade Statistics and CIA World Factbook as of the date of article publication.


The copyright of the article China's Top Trading Partners in International Trade Leaders is owned by Daniel Workman. Permission to republish China's Top Trading Partners in print or online must be granted by the author in writing.


Yangtze River in China , kconnors@MORGUEFILE.COM (169393)
       


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Apr 26, 2008 7:18 PM
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May 2, 2008 11:11 AM
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