International trade in China has grown steadily, since it has liberalized its economy.
The growth in the import and export has been faster than the growth in the global trade, and China’s share in the international trade has enhanced progressively. Though the growth was slow in the beginning, it picked up well later with the help of broader trade reforms, and considerable tariff reductions.
China has enhanced its access into the markets of the advanced country, and has concurrently become a significant export destination. The percentage of developed country imports to China has risen in the last two decades, with notable increases from Japan, the European Union, and the United States.
The role of China in the growth of the bilateral trade in the Asian region has become more important. The Chinese amalgamation with the global economy has connotations for both the regional and global economies.
Exports of goods and services to China (In percent of total exports)
- In 2003 Japanese export to China was 11.1 % of the total export
- In 2003 Korean export to China was 16.2 % of the total export
- In 2003 Hong Kong’s export to China was 46.4 % of the total export
- In 2003 Singapore’s export to China was 6.4 % of the total export
- In 2003 Indonesian export to China was 5.4 % of the total export
- In 2003 Malaysian export to China was 5.4 % of the total export
- In 2003 Philippines’s export to China was 3.9 % of the total export
- In 2003 Thai export to China was 6.9 % of the total export
- In 2003 Indian export to China was 4.5 % of the total export
- In 2003 European Union export to China was 3.5 % of the total export
- In 2003 United States export to China was 3.6 % of the total export
- In 2003 German export to China was 2.3 % of the total export
Chinese bilateral trade balances with different countries (In billions of U.S. dollars)
- In the 2003 the balance of trade with the United States was US $ 55 billion, suggesting that exports exceeded imports.
- In the 2003 the balance of trade with the European Union was US $ 18 billion, suggesting that exports exceeded imports.
- In the 2003 the balance of trade with the Japan was US $ -14 billion, suggesting that imports exceeded exports.
- In the 2003 the balance of trade with the Korea was US $ -21 billion, suggesting that imports exceeded exports.
- In the 2003 the balance of trade with the Taiwan (Province of China) was US $ -37 billion, suggesting that imports exceeded exports.
- In the 2003 the balance of trade with the Hong Kong was US $ 61 billion, suggesting that exports exceeded imports.
- In the 2003 the balance of trade with the ASEAN countries was US $ -15 billion, suggesting that imports exceeded exports.
- In the 2003 the balance of trade with the others countries was US $ -22 billion, suggesting that imports exceeded exports.