Since 2014, China is not only the world’s largest exporter, but also the largest trading nation in terms of the sum of its exports and imports. In 2019, China’s trade surplus stood at around 422 billion U.S. dollars and its exports of goods totaled a record high of almost 2.5 trillion U.S. dollars.
Why China is the biggest exporter in the world?
China had a large number of dominant industries that created products and materials for export. The most prominent goods among the finished products exported from China were consumer electronics, data processing technologies, clothing, other textiles, optical gear, and medical equipment.
Which country is largest exporter in the world?
Top 20 export countries worldwide in 2019 (in billion U.S. dollars)
| Exports in billion U.S. dollars | |
|---|---|
| China | 2,499.03 |
| United States of America | 1,645.63 |
| Germany | 1,489.16 |
| Netherlands | 709.23 |
What is China’s largest export?
Searchable List of China’s Most Valuable Export Products
| Rank | China’s Export Product | 2019 Value (US$) |
|---|---|---|
| 1 | Phone system devices including smartphones | $224,069,819,000 |
| 2 | Computers, optical readers | $148,463,426,000 |
| 3 | Integrated circuits/microassemblies | $102,187,884,000 |
| 4 | Processed petroleum oils | $38,345,208,000 |
When did China become the largest exporter?
China became the world’s biggest goods exporter in 2009. Its imports have also risen amid an expansion in its economy.
Who is China’s biggest importer?
Searchable Datalist of Countries Consuming China’s Exports
| Rank | Importer | 2018-9 |
|---|---|---|
| 1. | United States | -12.7% |
| 2. | Hong Kong | -7.7% |
| 3. | Japan | -2.7% |
| 4. | South Korea | +1.8% |
Who is China’s biggest trade partner?
At $20.49 trillion, the United States boasts the largest economy in the world and is China’s largest trading partner. Last year, the total value of bilateral trade between the two countries was $737.1 billion, with U.S. imports from China valued at $557.9 billion and U.S. exports to China valued at $179.3 billion.
Which country is richest country?
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| Rank | Country | GDP-PPP ($) |
|---|---|---|
| 1 | Qatar | 132,886 |
| 2 | Macao SAR | 114,363 |
| 3 | Luxembourg | 108,951 |
| 4 | Singapore | 103,181 |
Which country is No 1 in beef export?
Brazil is forecast to be the biggest exporter of beef and veal in the world in 2020. Despite alreading being the biggest exporter of the meat, Brazil was also one of the countries growing its exports the strongest, together with Argentina.
Who is the richest country in the world?
United States is the richest country in the world, and it has the biggest wealth gap. The United States led the world in growth of financial assets last year thanks to tax cuts and booming stock markets, but its distribution of wealth was more unequal than in any other country, according to a study published Wednesday.
Does China rely on the US?
But various data suggest that such a process may be challenging as the two economies have grown more connected over the years. The U.S. and China have been major trading partners for years, and they rely on each other’s supply chain for input into goods and services consumed within their borders.
What is US biggest export?
Services are the biggest US export, with total foreign sales of $778 billion last year. … These are the service industries that bring in the most money: Travel and transportation: $236 billion.
Which country imports most from China?
List of largest trading partners of China
| No. | Country / Region | Imports |
|---|---|---|
| Total | 1,843.7 | |
| 1 | United States | 153.9 |
| 2 | European Union | 197.9 |
| 3 | Japan | 165.8 |
Why did China develop so fast?
Economists generally attribute much of China’s rapid economic growth to two main factors: large-scale capital investment (financed by large domestic savings and foreign investment) and rapid productivity growth. These two factors appear to have gone together hand in hand.
Which country exports the most food?
Largest Food Exports By Country
| Rank | Country | Value of Food Exports (US Dollars, Thousands) |
|---|---|---|
| 1 | United States | 72,682,349.79 |
| 2 | Germany | 34,628,800.73 |
| 3 | United Kingdom | 29,540,218.71 |
| 4 | China | 25,152,286.27 |
Who is the biggest exporter of rice?
Principal rice exporting countries worldwide in 2018/2019 (in 1,000 metric tons)
| Export in thousand metric tons | |
|---|---|
| India | 9,790 |
| Thailand | 7,562 |
| Vietnam | 6,581 |
| Pakistan | 4,600 |