Major Trading Partners of China: A Comprehensive Overview

China, with 17% of the world’s population, stands as the largest consumer and producer of many goods and commodities. Its vast workforce allows for massive production volumes, meeting domestic demand while exporting products globally. Simultaneously, China is a top importer of various goods.

This blog will explore China’s trade dynamics, focusing on its top trading partners and providing an overview of key export and import statistics. Let’s examine China customs data to understand its trade volumes and patterns.

China Import and Export Data

According to the latest China export data, China’s total exports reached $3.73 trillion in 2023–24, solidifying its position as the world’s largest exporter. Key exports from China include:

• Broadcasting Equipment: $276 billion
• Integrated Circuits: $215 billion
• Computers: $214 billion
• Office Machine Parts: $118 billion
• Semiconductor Devices: $74 billion

On the import side, China’s total imports amounted to $2.16 trillion in 2023–24, making it the world’s second-largest importer. Major imports include:

• Crude Petroleum: $290 billion
• Integrated Circuits: $235 billion
• Iron Ore: $108 billion
• Petroleum Gas: $76 billion
• Gold: $70 billion

China’s Top Trading Partners

The top trading partners of China are as below:

1. United States
2. Japan
3. South Korea
4. Hong Kong
5. Taiwan
6. Russia
7. Vietnam
8. Australia
9. Germany
10. Malaysia

Detailed Overview of China Top Trading Partners 2023–24

1. United States: With a trade volume of $664.5 billion, the US is a major importer of soybeans, integrated circuits, and crude petroleum to China. China’s key exports to the US are broadcasting equipment, computers, and office machine parts.
2. Japan: The second-largest partner, Japan, has a trade volume of $310.8 billion. Major Chinese exports to Japan include cement, headgear, and copper, while imports include machines, textiles, and chemical products.
3. South Korea: With $310.7 billion in trade, South Korea’s major imports from China are iron and steel, plastic, and machinery. In return, China imports integrated circuits, cyclic hydrocarbons, and broadcasting equipment from South Korea.
4. Hong Kong: Hong Kong’s trade with China is valued at $288.2 billion. China imports gas turbines, gold, and pitted fruits from Hong Kong while exporting broadcasting equipment, integrated circuits, and office machine parts.
5. Taiwan: Taiwan is a significant trading partner with a volume of $267.8 billion. China exports broadcasting equipment, integrated circuits, and office machine parts to Taiwan and imports machinery, electronics, metals, and rubbers.
6. Russia: Trading $240.1 billion with China, Russia exports petroleum gas, crude petroleum, and coal briquettes, while China exports computers, large construction vehicles, and broadcasting equipment to Russia.
7. Vietnam: Vietnam’s trade volume with China is $229.8 billion. Major exports from China to Vietnam include silk, vegetable fat, and oil, while China imports telephones, broadcasting equipment, and integrated circuits.
8. Australia: With a trade volume of $229.1 billion, Australia’s main exports to China are iron ore, gas, and oil. China exports electronic circuits, shipping containers, and semi-trailers to Australia.
9. Germany: Germany’s trade with China amounts to $206.8 billion. China exports broadcasting equipment, integrated circuits, and office machine parts to Germany while importing machinery, electronics, and metals.
10. Malaysia: At $190.2 billion, Malaysia’s trade with China includes refined petroleum, printed circuit boards, integrated circuits from China, and machinery, electronics, and chemical products from Malaysia.

China’s Top Exporting Countries

The top 10 China exporting countries are as follows:

1. United States
2. Hong Kong
3. Japan
4. South Korea
5. Vietnam
6. India
7. Russia
8. Germany
9. Netherlands
10. Malaysia

The United States is the largest China export partner.

Top China Import Countries

The top 10 China importing countries are as follows:

1. Taiwan
2. United States
3. South Korea
4. Japan
5. Australia
6. Russia
7. Brazil
8. Germany
9. Malaysia
10. Vietnam

Taiwan is the biggest China import partner.

How to Access Global Trade Data

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Conclusion

China remains one of the largest economies globally, rich in resources and pivotal in international trade. Traders and businesses looking to enter the global market or gain trade insights can benefit from accessing detailed trade data. For specific country-wise or product-wise data, connect with Seair Exim Solutions and explore our extensive dashboard for in-depth trade insights.