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 biggest 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?
The United States. At $20.49 trillion, the United States boasts the largest economy in the world and is China’s largest trading partner.
Which country is richest country?
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| Rank | Country | GDP-PPP ($) |
|---|---|---|
| 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 biggest country in the world?
The 30 largest countries in the world by total area (in square kilometers)
| Area in square kilometers | |
|---|---|
| Russia | 17,098,242 |
| Canada | 9,984,670 |
| USA | 9,833,517 |
| China | 9,596,960 |
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 does China get from the US?
Aircraft, soybeans, motor vehicles and microchips are top U.S. exports to China. Since 2001, the share of these exports going to China has increased sharply. Soybeans and motor vehicles are targets of recent Chinese tariffs. Production of these two exports is geographically concentrated.
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.
Why China is growing so fast?
China’s strong productivity growth, spurred by the 1978 market-oriented reforms, is the leading cause of China’s unprecedented economic performance. … As such, they offer an excellent jumping-off point for future research on the potential roles for productivity measures in other developing countries.
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 |