China All Relevant Import and Export Statistics that you Must Know

 As per the World Import Export Data, the China’s trade surplus for goods stood at USD 535, 37 billion in 2020, an increase from USD 425.2 billion in 2019. The country has become the world’s largest exporter and ranks second among the world’s largest importers.

The country has stringent policies and is open to foreign trade, which is 35% of its GDP in 2020. As per the China Export Data, the main exports of the country include electrical and electronics equipment, machinery, nuclear reactors, boilers, furniture, lighting signs, prefabricated buildings, plastics, optical, photo, technical, medical apparatus, worn clothing and vehicles other than railway, tramway. The main export partners are United States, European Union, ASEAN, Vietnam, Korea Rep. and Japan.

As per China Import Data, the main imports are electrical and electronic equipment, mineral fuels, oils, distillation products, machinery, nuclear reactors and boilers, ash, optical photo, technical, and medical apparatus.

The main import partners are Japan, Australia, United States, South Korea, and Australia. Between 1980 and 2000, electronics exports were 28% of total exports. China has turned into one of the main traders of electronics products with 4.5% share of global electronics exports in 2000.

China has overtaken United States as world’s leading exporter of information technology goods such as mobile phones, laptop computers and digital cameras. The country exported USD 180 billion of electronic goods in 2004.

China remains the top exporter of electronics to US. Low cost is China’s competitive advantage and this is the reason many countries are preferring china’s electronics products. All the factories of China were working hard to produce cost-effective products. So, China became the cost leader in manufacturing for nearly everything.

China has increased its cost of soybeans and corn self-sufficiency in staple grains, including rice and wheat. In 2020, the top partner countries from which China imports food products are Netherlands, France, United States, Australia, and New Zealand.

The country is the largest importer of food. It imports more than $135bn worth food a year or between 6.5% to 7% of all the China imports. The imports for food have increased amid the growing demand from the huge middle class. China imports most of its soy beans. Soy beans are the only major crops for which China relies heavily on imports.

Ukraine All Relevant Import and Export Statistics that you must know

Comments

Post a Comment

Popular posts from this blog

Import and Export Procedures in Vietnam 2023

Import Procedures in Vietnam: Import License: Some goods require an import license issued by the relevant authorities in Vietnam. Importers should check whether their products fall under this category. Customs Declaration: Importers must complete customs declarations accurately and submit them along with supporting documents to customs authorities. Vietnam Import Data Customs Clearance: Imported goods must undergo customs clearance procedures, which include inspection, assessment of duties and taxes, and compliance verification. Payment of Duties and Taxes: Importers are responsible for paying import duties, taxes, and other applicable fees based on the classification and value of the imported goods. Documentation: Required documents for importation typically include commercial invoices, packing lists, bill of lading or airway bills, import permits or licenses (if applicable), and certificates of origin. Export Procedures in Vietnam: Export Registration: Some products may require ex...
Read more

Russia Import Export Statistics 2023

  Russia's trade activities were significant, with both exports and imports playing crucial roles in its economy. Here's a general overview: Exports: Energy Resources: Russia is renowned for its vast energy resources, particularly oil and natural gas. These resources constitute a substantial portion of Russia's export revenue. Russia Export Data Minerals and Metals: Russia also exports various minerals and metals, including iron ore, coal, aluminum, and copper. Arms and Military Equipment: The country is a significant exporter of arms and military equipment to various countries around the world. Agricultural Products: Russia exports agricultural commodities such as wheat, barley, and other grains. Imports: Machinery: Russia imports machinery and equipment for industrial purposes, including machinery for manufacturing and infrastructure development. Russia Import Data Consumer Goods: Like many countries, Russia imports various consumer goods such as electronics, clothi...
Read more

Importance of Turkey Import Export in Trade Data Business

Are you planning to do trade business with Turkey? If so, it is very important to know the trade dynamics of the country so that you can make informed business decisions. Here comes the need of Turkey Global Import Export Data details on real-time basis for successful international trade expansion. Turkey Import Data is collected of statistical information about each company’s business activities. It is based on the shipping bills, import bills, invoices and other import export documents. The data provides a bird’s eye view of the commodities that are imported or exported in Turkey. The Turkey import and export data contains information about price, HS code, importers’ details, exporters’ details, custom data, shipment data, competitors’ data, product description and quantity. Know the importance of Turkey import export data 1. The authentic and real-time import export data is used to estimate the consumption pattern of Turkey. The businesses can predict the local demand of commoditi...
Read more