Economy
Charting and Mapping China’s Exports Since 2001
Charting and Mapping China’s Exports Since 2001
Between the dawn of the Roman Empire and the first factory built in the Industrial Revolution, China was one of the most powerful economies on the planet, with a gross domestic product that made up roughly 30% of the global economy.
By the 1970s, the country’s economy had regressed to a shadow of its historic self, with a per-capita income equal to one-third of sub-Saharan Africa. But over the next four decades, China’s rapid industrial transformation made it the manufacturing powerhouse of the world, and exports rapidly ballooned.
Which markets are receiving all of these exports? This graphic from Ehsan Soltani uses data from the World Trade Organization and the customs office of China to track the biggest destinations of China’s merchandise exports—defined as goods that leave the territory of a country—since the 2000s.
China’s Top Export Markets from 2001‒2022
In 2001, when China joined the World Trade Organization, the value of its merchandise exports stood at $266 billion. Over the next seven years, the country’s exports grew uninterrupted until the 2008 financial crisis caused a sharp decline in global trade.
This cycle would repeat again with consecutive growth until 2015 (another global trade slowdown), followed by slowed growth until 2020 (the onset of the COVID-19 pandemic).
But merchandise exports skyrocketed by 30% in 2021, and by the end of 2022 had grown to an estimated $3.6 trillion per year. That means China’s exports alone are bigger than the entire economies of countries like the UK, India, and France.
Which countries were receiving most of these merchandise exports? Here are China’s top export markets from 2022 and their change since 2001:
China's Export Market | 2001 | 2022 | Change (%) |
---|---|---|---|
🇺🇸 U.S. | $54,355M | $581,783M | 970% |
🇪🇺 EU | $37,922M | $562,000M | 1,382% |
🇭🇰 Hong Kong | $46,541M | $297,538M | 539% |
🇯🇵 Japan | $44,941M | $172,927M | 285% |
🇰🇷 South Korea | $12,519M | $162,621M | 1,199% |
🇻🇳 Viet Nam | $1,798M | $146,960M | 8,074% |
🇮🇳 India | $1,896M | $118,502M | 6,150% |
🇲🇾 Malaysia | $3,221M | $93,711M | 2,809% |
🇹🇼 Taiwan | $5,001M | $81,587M | 1,531% |
🇬🇧 UK | $6,781M | $81,545M | 1,103% |
🌎 Rest of the World | $48,847M | $1,294,427M | 2,550% |
Total | $263,822M | $3,593,601M | 1,261% |
Despite Trump-era tariffs and a growing geopolitical rift over the last few years, the U.S. has been the biggest market for China’s exports for the last two decades. In 2022, the country received nearly $582 billion in goods from China.
Close behind, the 27 member states of the European Union rank as the second biggest market for exported Chinese goods at $562 billion. The largest individual country was the Netherlands, which accounted for $118 billion or just under 21% of Chinese merchandise exports to the EU.
How do other individual countries compare? Below is the full list of China’s export markets in 2022 by countries and territories:
Country / Territory | China Exports (2022) |
---|---|
U.S. | $581,783M |
Hong Kong | $297,538M |
Japan | $172,927M |
South Korea | $162,621M |
Viet Nam | $146,960M |
India | $118,502M |
Netherlands | $117,731M |
Germany | $116,227M |
Malaysia | $93,711M |
Taiwan | $81,587M |
UK | $81,545M |
Singapore | $81,168M |
Australia | $78,827M |
Thailand | $78,480M |
Mexico | $77,535M |
Russia | $76,123M |
Indonesia | $71,318M |
Philippines | $64,679M |
Brazil | $61,970M |
U.A.E | $53,862M |
Canada | $53,705M |
Italy | $50,908M |
France | $45,663M |
Spain | $41,750M |
Poland | $38,163M |
Saudi Arabia | $37,990M |
Belgium | $35,635M |
Türkiye | $34,034M |
Bangladesh | $26,808M |
South Africa | $24,196M |
Pakistan | $23,089M |
Chile | $22,520M |
Nigeria | $22,300M |
Czech Republic | $18,227M |
Egypt | $17,170M |
Israel | $16,481M |
Kazakhstan | $16,355M |
Colombia | $15,600M |
Kyrgyzstan | $15,421M |
Cambodia | $14,184M |
Iraq | $13,989M |
Myanmar | $13,616M |
Peru | $13,532M |
Greece | $12,988M |
Argentina | $12,769M |
Panama | $12,647M |
Sweden | $11,396M |
Hungary | $10,473M |
Denmark | $10,192M |
Iran | $9,440M |
New Zealand | $9,175M |
Kenya | $8,249M |
Ghana | $7,926M |
Tanzania | $7,775M |
Switzerland | $7,619M |
Liberia | $7,520M |
Uzbekistan | $7,504M |
Romania | $7,397M |
Slovenia | $6,861M |
Ecuador | $6,288M |
Algeria | $6,276M |
Portugal | $5,978M |
Morocco | $5,741M |
Ireland | $5,726M |
Jordan | $5,707M |
Norway | $5,191M |
Austria | $5,119M |
Congo, DR | $5,118M |
Kuwait | $4,970M |
Finland | $4,553M |
Slovakia | $4,436M |
Guatemala | $4,366M |
Dominican Republic | $4,319M |
Macao | $4,277M |
Oman | $4,205M |
Angola | $4,097M |
Senegal | $4,068M |
Qatar | $3,989M |
Sri Lanka | $3,755M |
Cote d'Ivoire | $3,491M |
Marshall Islands | $3,468M |
Ukraine | $3,300M |
Mozambique | $3,292M |
Belarus | $3,275M |
Djibouti | $3,262M |
Togo | $3,177M |
Cameroon | $3,167M |
Venezuela | $3,009M |
Uruguay | $2,983M |
Mongolia | $2,887M |
Bulgaria | $2,852M |
Yemen | $2,798M |
Lebanon | $2,516M |
Libya | $2,373M |
Costa Rica | $2,369M |
Lao | $2,340M |
Guinea | $2,283M |
Croatia | $2,266M |
Tajikistan | $2,217M |
Ethiopia | $2,217M |
Serbia | $2,177M |
Sudan | $2,034M |
Malta | $1,974M |
Paraguay | $1,895M |
Tunisia | $1,880M |
Lithuania | $1,790M |
Bahrian | $1,772M |
Benin | $1,691M |
El Salvador | $1,659M |
Nepal | $1,655M |
Honduras | $1,560M |
Madagascar | $1,455M |
Papua New Guinea | $1,426M |
Georgia | $1,252M |
Cyprus | $1,168M |
Azerbaijan | $1,136M |
Zimbabwe | $1,125M |
Uganda | $1,077M |
Bolivia | $1,067M |
Somalia | $1,047M |
Jamaica | $1,039M |
Latvia | $1,025M |
Zambia | $980M |
Republic of Congo | $976M |
Mauritius | $974M |
Puerto Rico | $973M |
Estonia | $947M |
Mauritania | $941M |
North Korea | $894M |
Turkmenistan | $868M |
Brunei | $831M |
Nicaragua | $724M |
Albania | $704M |
Niger | $676M |
Haiti | $635M |
Gabon | $583M |
Mali | $581M |
Guyana | $577M |
Sierra Leone | $573M |
Namibia | $557M |
Afghanistan | $553M |
Trinidad and Tobago | $544M |
Luxembourg | $526M |
Burkina Faso | $504M |
Fiji | $503M |
Armenia | $480M |
Gambia | $454M |
Maldives | $451M |
Syria | $425M |
Cuba | $414M |
Rwanda | $407M |
Bahamas | $397M |
Belize | $328M |
Suriname | $321M |
Iceland | $311M |
Timor-Leste | $290M |
Chad | $282M |
Malawi | $281M |
Reunion | $250M |
North Macedonia | $235M |
Equatorial Guinea | $231M |
Botswana | $221M |
Montenegro | $219M |
Moldova | $207M |
Solomon Islands | $196M |
Bosnia and Hercegovina | $185M |
New Caledonia | $169M |
Bhutan | $166M |
Barbados | $161M |
Palestine | $158M |
South Sudan | $157M |
French Polynesia | $154M |
Eritrea | $148M |
Samoa | $124M |
Burundi | $120M |
Virgin Islands,British | $109M |
Antigua and Barbuda | $105M |
Vanuatu | $96M |
Seychelles | $96M |
Cape Verde | $93M |
Bermuda | $83M |
Swaziland | $82M |
Guadeloupe | $68M |
Comoros | $67M |
Liechtenstein | $64M |
Aruba | $64M |
Curacao | $61M |
Lesotho | $60M |
Mayotte | $59M |
Tonga | $57M |
Guinea-Bissau | $57M |
Cayman Islands | $55M |
Palau | $54M |
Central African Republic | $52M |
Martinique | $48M |
Kiribati | $43M |
French Guiana | $39M |
Saint Lucia | $36M |
Dominica | $34M |
Tuvalu | $33M |
Micronesia,FS | $30M |
Netherlands Antilles | $26M |
Grenada | $23M |
Andorra | $22M |
St.Vincent&Grenadines | $22M |
Gibraltar | $18M |
Sao Tome and Principe | $15M |
St.Kitts&Nevis | $15M |
Nauru | $13M |
Monaco | $12M |
Cook Islands | $12M |
Turks&Caicos Islands | $10M |
San Marino | $10M |
Saint Martin Islands | $5M |
Canary Islands | $2M |
Faroe Islands | $2M |
Wallis and Futuna | $2M |
Norfolk Island | $2M |
Western Sahara | $1M |
Greenland | $1M |
Society Islands | $1M |
Will China’s Exports Continue to Grow?
Like the broader global economy, the Chinese economy is starting to re-adjust.
For one, the country is beginning to rebalance exports from its manufacturing-heavy mix to a more even allocation of both manufacturing and services. Secondly, the economy’s overall reliance on exports has decreased significantly from its highs in the mid-2000s, with an aim to increase domestic consumption and have a more self-sufficient economy overall.
That’s not to say that Chinese dominance on the world export stage is expected to waver. With far-reaching economic policies like the One Belt, One Road initiative and the RCEP trade agreement between 15 countries in Asia and Oceania, there are plenty of future growth avenues for Chinese exports.
As the country faces an unprecedented internal demographic shift in the coming decades, perhaps China’s robust export sector will be key to continued economic growth.
This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.
Economy
Economic Growth Forecasts for G7 and BRICS Countries in 2024
The IMF has released its economic growth forecasts for 2024. How do the G7 and BRICS countries compare?
G7 & BRICS Real GDP Growth Forecasts for 2024
The International Monetary Fund’s (IMF) has released its real gross domestic product (GDP) growth forecasts for 2024, and while global growth is projected to stay steady at 3.2%, various major nations are seeing declining forecasts.
This chart visualizes the 2024 real GDP growth forecasts using data from the IMF’s 2024 World Economic Outlook for G7 and BRICS member nations along with Saudi Arabia, which is still considering an invitation to join the bloc.
Get the Key Insights of the IMF’s World Economic Outlook
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This visual is part of a special dispatch of the key takeaways exclusively for VC+ members.
Get the full dispatch of charts by signing up to VC+.
Mixed Economic Growth Prospects for Major Nations in 2024
Economic growth projections by the IMF for major nations are mixed, with the majority of G7 and BRICS countries forecasted to have slower growth in 2024 compared to 2023.
Only three BRICS-invited or member countries, Saudi Arabia, the UAE, and South Africa, have higher projected real GDP growth rates in 2024 than last year.
Group | Country | Real GDP Growth (2023) | Real GDP Growth (2024P) |
---|---|---|---|
G7 | 🇺🇸 U.S. | 2.5% | 2.7% |
G7 | 🇨🇦 Canada | 1.1% | 1.2% |
G7 | 🇯🇵 Japan | 1.9% | 0.9% |
G7 | 🇫🇷 France | 0.9% | 0.7% |
G7 | 🇮🇹 Italy | 0.9% | 0.7% |
G7 | 🇬🇧 UK | 0.1% | 0.5% |
G7 | 🇩🇪 Germany | -0.3% | 0.2% |
BRICS | 🇮🇳 India | 7.8% | 6.8% |
BRICS | 🇨🇳 China | 5.2% | 4.6% |
BRICS | 🇦🇪 UAE | 3.4% | 3.5% |
BRICS | 🇮🇷 Iran | 4.7% | 3.3% |
BRICS | 🇷🇺 Russia | 3.6% | 3.2% |
BRICS | 🇪🇬 Egypt | 3.8% | 3.0% |
BRICS-invited | 🇸🇦 Saudi Arabia | -0.8% | 2.6% |
BRICS | 🇧🇷 Brazil | 2.9% | 2.2% |
BRICS | 🇿🇦 South Africa | 0.6% | 0.9% |
BRICS | 🇪🇹 Ethiopia | 7.2% | 6.2% |
🌍 World | 3.2% | 3.2% |
China and India are forecasted to maintain relatively high growth rates in 2024 at 4.6% and 6.8% respectively, but compared to the previous year, China is growing 0.6 percentage points slower while India is an entire percentage point slower.
On the other hand, four G7 nations are set to grow faster than last year, which includes Germany making its comeback from its negative real GDP growth of -0.3% in 2023.
Faster Growth for BRICS than G7 Nations
Despite mostly lower growth forecasts in 2024 compared to 2023, BRICS nations still have a significantly higher average growth forecast at 3.6% compared to the G7 average of 1%.
While the G7 countries’ combined GDP is around $15 trillion greater than the BRICS nations, with continued higher growth rates and the potential to add more members, BRICS looks likely to overtake the G7 in economic size within two decades.
BRICS Expansion Stutters Before October 2024 Summit
BRICS’ recent expansion has stuttered slightly, as Argentina’s newly-elected president Javier Milei declined its invitation and Saudi Arabia clarified that the country is still considering its invitation and has not joined BRICS yet.
Even with these initial growing pains, South Africa’s Foreign Minister Naledi Pandor told reporters in February that 34 different countries have submitted applications to join the growing BRICS bloc.
Any changes to the group are likely to be announced leading up to or at the 2024 BRICS summit which takes place October 22-24 in Kazan, Russia.
Get the Full Analysis of the IMF’s Outlook on VC+
This visual is part of an exclusive special dispatch for VC+ members which breaks down the key takeaways from the IMF’s 2024 World Economic Outlook.
For the full set of charts and analysis, sign up for VC+.
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