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Biggest export from us to china8/12/2023 ![]() The dismal December trade readings suggest China’s economy may have cooled faster than expected late in the year, despite a slew of growth-boosting measures in recent months ranging from higher infrastructure spending to tax cuts. Softening demand in China is being felt around the world, with slowing sales of goods from iPhones to automobiles, prompting warnings from the likes of Apple and from Jaguar Land Rover, which last week announced sweeping job cuts. REUTERS/StringerĪdding to policymakers’ worries, data on Monday also showed China posted its biggest trade surplus with the United States on record in 2018, which could prompt President Donald Trump to turn up the heat on Beijing in their bitter trade dispute. In March 2023, the decrease in United States's year-by-year imports from China was explained primarily by an decrease in product imports in Other Plastic Products ($-292M or -31.3%), Computers ($-161M or -3.42%), and Felt or Coated Fabric Garments ($-104M or -59.2%).FILE PHOTO: Containers and trucks are seen at a terminal of the Qingdao port in Shandong province, China November 8, 2018. Growth In March 2023, the increase in United States's year-by-year exports to China was explained primarily by an increase in product exports in Aircraft Parts ($155M or 47.6%), Corn ($117M or 45.3%), and Scrap Copper ($95.7M or 122%). Origins In March 2023 the exports of United States were mainly from Texas ($2.66B), Louisiana ($1.59B), California ($1.57B), North Carolina ($1.08B), and Washington ($918M), while imports destinations were mainly California ($8.1B), Illinois ($3.22B), Texas ($2.64B), Tennessee ($2.57B), and Georgia ($1.25B). In March 2023 the top imports of United States from China were Telephones ($6.12B), Computers ($4.55B), Other toys ($1.42B), Seats ($990M), and Video Displays ($915M). Trade In March 2023, the top exports of United States to China were Soybeans ($1.98B), Integrated Circuits ($871M), Crude Petroleum ($536M), Aircraft Parts ($480M), and Machines and apparatus of a kind. Between March 2022 and March 2023 the exports of United States have increased by $806M (6.03%) from $13.4B to $14.2B, while imports decreased by $-16.6B (-35%) from $47.4B to $30.8B. Overview In March 2023, United States exported $14.2B and imported $30.8B from China, resulting in a negative trade balance of $16.6B. That same year, China ranked 25 in the Economic Complexity Index (ECI 1.07), and 1 in total exports ($3.34T). In 2021, China did not export any services to United States.Ĭomparison In 2021, United States ranked 10 in the Economic Complexity Index (ECI 1.46), and 2 in total exports ($1.63T). During the last 26 years the exports of China to United States have increased at an annualized rate of 10.8%, from $36.9B in 1995 to $530B in 2021. The main products that China exported to United States were Computers ($57.4B), Broadcasting Equipment ($54.3B), and Office Machine Parts ($16.7B). In 2017, United States exported services to China worth $58.1B, with Travel ($30.7B), Royalties and license fees ($7.41B), and Financial services ($7.26B) being the largest in terms of value.Ĭhina-United States In 2021, China exported $530B to United States. During the last 26 years the exports of United States to China have increased at an annualized rate of 10.1%, from $12.4B in 1995 to $151B in 2021. ![]() The main products that United States exported to China are Soybeans ($14.3B), Integrated Circuits ($12.5B), and Cars ($6.89B). United States-China In 2021, United States exported $151B to China.
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