Quick Answer: Which countries rely on China for trade?

In 2018, China major trading partner countries for exports were United States, Hong Kong, China, Japan, Korea, Rep. and Vietnam and for imports they were Korea, Rep., Japan, Other Asia, nes, United States and Germany.

What countries are most reliant on China?

List of largest trading partners of China

Rank Country / Territory Trade balance
1 United States 275.8
2 European Union 177.1
ASEAN 41.5
3 Japan -28.6

Which countries rely on trade the most?

Here is a list of the top ten countries that have the most trade in terms of percentage of GDP:

  1. Hong Kong: 400% trade volume.
  2. Luxembourg: 391% trade volume. …
  3. Singapore: 326% trade volume. …
  4. Ireland: 222% trade volume. …
  5. Maldives: 201% trade volume. …
  6. Slovak Republic: 185% trade volume. …
  7. Vietnam: 179% trade volume. …

Does Australia rely on China for trade?

Australia is China’s sixth largest trading partner; it is China’s fifth biggest supplier of imports and its tenth biggest customer for exports. Twenty-five per cent of Australia’s manufactured imports come from China; 13% of its exports are thermal coal to China. A two-way investment relationship is also developing.

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What does the US rely on China for?

The U.S. depends heavily on China for providing the low-cost goods that enable income-constrained American consumers to make ends meet. The U.S. also depends on China to support its own exports; next to Mexico and Canada, China is America’s third largest and by far its most rapidly growing major export market.

Who is China’s biggest trade partner?

Mainland China’s 100 major trade partners account for $2.551 trillion or 98.5% of all exported goods consumed by trade partners that import from the People’s Republic.

Searchable Datalist of Countries Consuming China’s Exports.

Rank 1.
Importer United States
Exports from China (US$) $452,576,771,000
2019-20 +8.1%

What is the top import of China?

Searchable List of China’s Most Valuable Import Products

Rank China’s Import Product 2020 Value (US$)
1 Integrated circuits/microassemblies $350,845,066,000
2 Crude oil $176,321,269,000
3 Iron ores, concentrates $118,944,291,000
4 Cars $44,923,331,000

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.

What country is the biggest exporter?

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.

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What would happen if China stopped trade with Australia?

“First, it would mean too big a disruption to the Chinese economy.” Iron ore imports from Australia are worth $85 billion annually, and so far, the agricultural imports hit by China’s tariffs and bans are worth just $6 billion, he said. “China would not be able to make up its iron ore needs from other sources.”

Why does Australia trade with China so much?

China is Australia’s biggest trading partner mainly due to China’s strong demand for iron ore, coal and liquefied natural gas. Exports to China helped Australia escape the worst effects of the global financial crisis.

Why is Australia having a trade war with China?

NATO leaders warn that China is poising a growing military threat to the alliance. Experts say those competing strategic interests and Canberra’s recent strategic shift toward the West are partly to blame for its yearlong trade war with Beijing — and plummeting lobster prices.

What if the US stopped buying from China?

If the rest of the world stopped buying from China today. The world economy would pretty much collapse. Everyone would scramble around trying to fix it. The Chinese would adapt much faster and more effectively than the rest of the world because of the way decisions are made.

What would happen if China stopped exporting?

The result will be for China a loss of GDP that could go up to 15-20%. A disaster. It will cause a recession and damages on its domestic market (People will lose their job and buy less, so the market will shrink). For the US, it will affect the economy less.

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How much money does the US owe China?

Breaking Down Ownership of US Debt

China owns about $1.1 trillion in U.S. debt, or a bit more than the amount Japan owns. Whether you’re an American retiree or a Chinese bank, American debt is considered a sound investment.