China is currently our largest goods trading partner with $559.2 billion in total (two way) goods trade during 2020. Goods exports totaled $124.5 billion; goods imports totaled $434.7 billion.
How much money does China earn from exports?
In 2020, despite the global coronavirus pandemic, China’s exports of goods totaled a record high of almost 2.6 trillion U.S. dollars, over one trillion more than second-place the United States. In the same year, China’s export of goods and services constituted 17.65 percent of GDP.
How much money does China make from imports?
China’s total imports and exports have grown nearly eightfold since 2001 and reached 32.2 trillion yuan in 2020. The goods import trade value that year exceeded two trillion U.S. dollars, making China the second-largest importing nation worldwide.
How much of China’s GDP is trade?
Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product. China trade to gdp ratio for 2020 was 34.51%, a 1.33% decline from 2019. China trade to gdp ratio for 2019 was 35.84%, a 1.62% decline from 2018.
Is China the world’s top trader?
China has been the largest exporter of goods in the world since 2009. 1 Official estimates suggest the country’s total exports amounted to $2.641 trillion in 2019. 2 In 2013, China became the largest trading nation in the world. 1 The United States previously held that position.
How much money does the US owe China?
How much is the U.S. in debt to China? The United States currently owes China around $1.1 trillion as of 2021.
How much does the US rely on China?
U.S. goods imports from China totaled $434.7 billion in 2020, down 3.6 percent ($16.0 billion) from 2019, but up 19 percent from 2010. U.S. imports from are up 325 percent from 2001 (pre-WTO accession). U.S. imports from China account for 18.6 percent of overall U.S. imports in 2020.
Who buys the most from China?
Searchable Datalist of Countries Consuming China’s Exports
|Rank||Importer||Exports from China (US$)|
What would happen if US stopped trading with China?
Around 4% of China’s GDP and 3% of America’s GDP would temporarily disappear and then reappear as increased Chinese exports to Europe/Russia/Africa/India and increased US imports from those regions. On the US side, a lot of prices would shoot up dramatically, and consumers would cut back accordingly.
What is China’s biggest export?
List of exports of China
|4||Office Machine Parts||47.079|
Who does US trade with the most?
China, Canada and Mexico are the country’s largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports. But this landscape could be reshaped as President Trump pursues “America First” policies and reworks free trade deals.
How much does China export to the world?
The World’s Top Traders (2018)
The value of China’s exports in goods annually surpasses the amount it imports from the rest of the world. In 2018, China exported $2.49 trillion in goods while it imported $2.13 trillion.
How much does China export to US?
China Exports to United States was US$452.58 Billion during 2020, according to the United Nations COMTRADE database on international trade. China Exports to United States – data, historical chart and statistics – was last updated on December of 2021.
Why is trade with China important?
While expanding foreign trade can disrupt US employment, trade with China also creates and supports a significant number of American jobs. Exports to China support nearly 1 million US jobs, and Chinese companies invested in the United States employ over 120,000 workers. It helps US companies compete globally.
What is China’s main import?
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).
What is China’s main export to the US?
The United States
The top goods exported from China to the U.S. and their total values for 2018 were electrical machinery ($152 billion), machinery ($117 billion), furniture and bedding ($35 billion), toys and sports equipment ($27 billion), and plastics ($19 billion).